Forex Markets

The dollar index this morning is up +0.226 (+0.25%). EUR/USD is down -0.0009 (-0.07%) and USD/JPY is up +0.24 (+0.22%). Thursday's closes: Dollar Index -0.026 (-0.03%), EUR/USD -0.0017 (-0.14%), USD/JPY -0.59 (-0.54%). The dollar index on Thursday fell back from a 2-week high and closed slightly lower. The dollar was undercut by the slump in stocks, which undercut USD/JPY on increased safe-haven demand for the yen. There was also strength in GBP/USD after the BOE said it may need to raise interest rates sooner than expected as inflation is expected to remain above its 2% target.