Forex Market Update

The ICE U.S. Dollar Index rose to its highest level since 2003 Thursday, as currency traders bet that a stronger-than-expected core consumer-price index number will prompt the Federal Reserve to raise interest rates sooner than expected.

The index DXY, -0.13% a measure of the greenback’s strength against a basket of six rival currencies, rose 1.15% to 95.1500, according to FactSet data.

The euro EURUSD, +0.13%  traded at $1.1998, its lowest level since Jan. 26, compared with $1.1361 Wednesday.

Elsewhere, the dollar rose to 119.46 yen USDJPY, -0.22% compared with ¥118.87 Wednesday. The pound GBPUSD, +0.21%  fell to $1.5405, compared with $1.5521.