2018.01.0402:58:00UTC+00Dollar Slightly Higher, Buoyed by Strong U.S. Data

The dollar rose on Thursday after strong U.S. data and supportive minutes from the Federal Reserve's latest policy meeting helped it counterbalance recent weakness.

The dollar index against a basket of six major currencies extended its previous day's growth to stand 0.02 percent higher at 92.183. It had dropped to 91.751 on Tuesday, its lowest since Sept. 20.

The dollar rose after the release of strong U.S. manufacturing and construction data.

It gained further support as the minutes from the Fed's Dec. 12-13 meeting were more hawkish than expected, indicating the central bank is still on track to hike interest rates several times this year.

Fed policymakers acknowledged the U.S. labor market's solid gains and the growth in economic activity, despite reiterating worries about low inflation.

The U.S. currency rose 0.15 percent to 112.655 yen. It hit a 2-½ -week low of 112.055 on Tuesday after dropping from a high above 113.750, notched in December.

The euro was flat at $1.2016 after losing almost 0.4 percent overnight. The single currency had jumped to a three-month peak of $1.2081 on Tuesday against a weaker dollar.

The pound was steady at $1.3515, following overnight losses of 0.6 percent, when it dropped from a 3-½-month peak of $1.3614 against the U.S. dollar.

The Australian dollar was slightly lower at $0.7832 while the New Zealand dollar gained 0.1 percent to $0.7098.