Dollar extends gains, shrugs off disappointing data

The US dollar rose against most of its peers on Thursday, despite the release of less-than-expected economic data.

The US unemployment claims fell to 360K last week, from the previous reading of 386K, worse than forecasts of 350K. 

The US industrial production rose 0.4% during June, lower than forecasts of a rise by 0.6%.

The absorbed Federal Reserve Chairman Jerome Powell's statements before the Congress that the recent surge in inflation is temporary, as consumer prices rose due to the US economy reopening, and stressed the Fed's commitment to its current dovish monetary policy.

The dollar index rose against a basket of major currencies by 0.2% to 92.6 points as of 18:01 GMT, after hitting a high of 92.6 points and a low of 92.2 points.