USD Hits New Four-Month High

The U.S. Dollar (USD) rose on Thursday to its highest level in four months, supported by the high Treasury bond yields and positive economic data.

The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up by 0.27% at 92.78, after touching a high of 92.79 earlier, while its lowest level was at 92.51, near its Wednesday closing level of 92.53.

The benchmark U.S. 10-year Treasury bond yield is nearly unchanged at 1.612%, maintaining its downward trend since the beginning of the week.

Data showed that the United States gross domestic product (GDP) expanded by 4.3% during the fourth quarter of 2020, exceeding expectations of a 4.1% economic growth rate.