Dollar Soars as US Data and Central Bankers' Comments Send Interest Rate Expectations Higher

The US dollar rose to near an eight-day high on Thursday as investors weighed US economic data and comments from central bankers.

Fed Chair Kevin Warsh is set to speak at the Jackson Hole symposium on Friday, where policymakers will discuss navigating a landscape in which higher Treasury yields could do some of the tightening work for them.

Warsh's speech comes after US Treasury Secretary Scott Bessent said the Treasury would double the size of quarterly repurchases of longer-dated bonds, sparking concerns about a shift to a more direct strategy to mitigate the rise in borrowing costs and potentially debasing the dollar.

The dollar index edged up 0.05% to 99.18, with the euro off 0.03% at $1.1646.