Dollar index is staying elevated around a one-month high and seen fast approaching the next crucial 99 mark. All eyes are now glued to upcoming US nonfarm payrolls (NFP) report that could shed some light on Federal Reserve interest rate stance for the year. On Thursday, the US Department of Labor (DOL) reported that initial jobless claims rose modestly to 208,000 in the week ended January 3, slightly below market expectations of 210,000 but above the previous week's revised 200,000. Continuing jobless claims increased to 1.914 million from 1.858 million, indicating a gradual rise in the number of people remaining on unemployment benefits. The dollar index that measures the greenback against a basket of currencies is trading higher by the fourth consecutive day and quoting for now at 98.79, up 0.10% on the day.
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