Dow Jones| Nasdaq | US Stock Market Today | Live: Nasdaq futures jump 2% as chip outlook eases AI concerns; inflation data awaited

The dollar headed on Thursday for its biggest monthly gain in almost a year, ​ahead of U.S. inflation data that could support ​many investors’ growing belief that the Federal Reserve will need to raise rates ​at least once this year.

The dollar hit a 13-month high against the euro on Wednesday, leaving the single European currency below $1.14. It also sent the pound to seven-month lows and kept the Japanese yen around its weakest in 40 years, around 161.9.

Dollar strength has ‌pushed gold briefly ⁠below $4,000 an ⁠ounce for the first time in more than seven months and sent bitcoin under $60,000 for the first time since 2024.