U.S. Dollar Climbs From Nine-Week Low in Step With Higher Treasury Yields

The dollar recovered from a nine-week low on Thursday, lifted by a rise in U.S. Treasury yields after the government reported strong economic growth for the first quarter and an improvement in new jobless claims in the latest week. U.S. benchmark 10-year Treasury yields rose 2 basis points on Thursday, to 1.639 percent, boosted by the upbeat economic reports. Gross domestic product increased at a 6.4 percent annualized rate in the first quarter, the data showed, the second-fastest growth since the third quarter of 2003. First-quarter growth was powered by consumer spending, which increased at a 10.7 percent rate versus…