The Dollar Continues to Strengthen During European Session

The dollar continued to strengthen during the European session on Thursday. This was due to the release of positive economic data from the US, which boosted investor confidence in the currency.

The US dollar index, which measures the greenback against a basket of major currencies, rose to 92.50 during the European session. This was its highest level in over two weeks.

The positive economic data from the US included better-than-expected retail sales and jobless claims figures. This fueled expectations of a strong economic recovery in the US, which in turn supported the dollar.

Meanwhile, the euro and the pound both weakened against the dollar during the European session. The euro fell to 1.1770, while the pound dropped to 1.3730.

Looking ahead, market participants will be closely watching the release of the US consumer sentiment index and existing home sales data later in the day. Any further positive economic data could continue to support the dollar's strength.