Dollar Rallies to New Highs Amid Strong US Economic Data

The U.S. Dollar Index has reached new highs, driven by strong economic data from the United States.

According to recent reports, the ISM Manufacturing PMI decreased from 54.6 in August to 54.5 in September, slightly missing analyst expectations of 55. However, this slight miss was still seen as bullish for the American currency due to the U.S. economy's continued growth.

The Initial Jobless Claims report showed that 197,000 Americans filed for unemployment benefits in a week, beating analyst consensus of 200,000.

In response to these reports, the EUR/USD has pulled back below 1.1250 as traders focused on U.S. economic data and the Euro Area Unemployment Rate remained unchanged at 6.4% in August, in line with analyst estimates.