Dollar Near Yearly High on Hawkish Commentary, PMI in Focus

The US Dollar (USD) has been performing well against its major currency peers, reaching near its yearly high of 101.80 on Thursday.

The US Dollar Index (DXY), which measures the Greenback's value against six major currencies, was up 0.13% to around 101.60, with some distance remaining from its yearly peak.

An analysis of the source suggests that the hawkish commentary from Minneapolis Federal Reserve Bank President Neel Kashkari on Wednesday may have contributed to the dollar's strength.

Kashkari emphasized concerns about inflation near 3% and resilient growth, indicating a potential for further restrictive policy, which is generally supportive for the Dollar.