Dollar Moves Higher with Bond Yields

Group 1 - The dollar index (DXY00) increased by +0.57% due to positive comments from Fed Chair Powell regarding inflation and interest rates [1] - US weekly initial unemployment claims fell by -33,000 to 231,000, indicating a stronger labor market than the expected 240,000 [3] - The September Philadelphia Fed business outlook survey rose by +23.5 to an 8-month high of 23.2, surpassing expectations of 1.7 [3] Group 2 - Concerns over Fed independence may lead foreign investors to sell dollar assets, particularly in light of President Trump's actions against Fed Governor Cook [2] - The euro (EUR/USD) decreased by -0.30% due to a stronger dollar and fiscal concerns from the German government planning to borrow about 20% more than originally intended in Q4 [4] - Germany's finance agency plans to raise 90.5 billion euros ($107 billion) in Q4, which is 15 billion euros more than previously projected [5]