USD Rebounds From Session Lows

The U.S. Dollar (USD) rose on Thursday, supported by the drop in weekly jobless claims and the testimony of the Federal Reserve Chair before Congress, in which expressed the central bank’s patience in dealing with the rising inflation.

Unemployment benefits data showed that the labor market continues to show recovery signs.

The Dollar Index (DXY) that measures the greenback against a basket of six major international currencies rose 0.2% to 92.603, recovering from its earlier losses after falling as low as 92.27 earlier.