Dollar hits fresh 7-week highs after U.S. jobless Data.


The dollar rose to fresh seven-week highs against other major currencies on Thursday, after the release of upbeat U.S. jobless claims data and as growing expectations for a March rate hike by the Federal Reserve continued to support demand for the greenback.


The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.34% at a fresh seven-week high of 102.09.The U.S. Department of Labor said initial jobless claims declined by 19,000 to 223,000 in the week ending February 25 from the previous week’s total of 242,000. Analysts expected jobless claims to rise by 1,000 to 243,000 last week.The greenback was already boosted after a number of Federal Reserve officials this week expressed their support for a March rate hike.