The dollar strengthened Thursday, supported by dovish comments from a European Central Bank policy maker and a smattering of U.S. economic data that, while not spectacular, were stronger than expected.
U.S. stocks also rose, snapping a two-day losing streak and forming a trading correlation with the dollar that confused many investors. Typically, the dollar shares an inverse correlation with U.S. stocks.
The greenback USDJPY, +0.22% reached its lowest level against the yen since August during the Asia trading day, but it began to recover after the U.S. data were released.
The euro EURUSD, -0.1318% traded at $1.1379 late Thursday in New York, down 0.5% from $1.1474 late Wednesday. The British pound GBPUSD, +0.0323% rose to $1.5489 late Thursday from $1.5475.
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