Dollar Index Hits 101.437 on July 23 as US Labor Market Strengthens

According to Yonhap Infomax, as of 4 p.m. ET on July 23, the dollar strengthened on robust U.S. labor market data and elevated Middle East geopolitical tensions. The dollar index (DXY) rose to 101.437, marking its highest level since May 1. The dollar-yen rate climbed to 163.824 yen, while the dollar-euro rate fell to 1.13794.

The U.S. Department of Labor reported that initial jobless claims for the week ending July 18 totaled 187,000 on a seasonally adjusted basis, the lowest figure since September 1969. Meanwhile, Brent crude oil for September delivery surged 7.04% to $100.69 per barrel, the first close above $100 since May 22, amid tensions between the U.S. and Iran and reported attacks on shipping vessels in the Red Sea near Saudi Arabia.