Dollar retreats for second day in a row

Dollar dipped in European trade on Thursday against a basket of currencies, heading for the second daily loss in a row as US 10-year bond yields fell, while Federal Reserve member Patrick Harker made earlier remarks, as earlier data showed US unemployment claims rising in line with expectations. 

The dollar index rose to 97.15 from the opening of 97.20, with an intraday high at 97.24, and a low at 97.10. 

The index fell 0.2% yesterday, the first loss in three days, as US treasury bond yields fell and overtook an unexpected rise in existing home sales last month. 

Federal Reserve of Philadelphia Governor Patrick Harker said in an interview with the Financial Times that "It's wise for the Fed to stop raising interest rates in the next meetings".  

Earlier US data showed unemployment claims rose to 241 thousand in the week ending June 17, matching expectations, and compared to the previous reading's 238K, revised higher from 237K.

Otherwise, Federal Open Market Committee member Jerome Powell is scheduled to appear in front of the Senate Banking Committee in Washington, as investors look for any clues about the future of policy tightening this year.