The dollar index this morning is up +0.157 (+0.17%) at a 5-month high. EUR/USD is down -0.0014 (-0.12%). USD/JPY is up +0.24 (+0.22%) at a 3-3/4 month high. Thursday's closes: Dollar Index +0.077 (+0.08%), EUR/USD -0.0013 (-0.11%), USD/JPY +0.37 (+0.34%). The dollar index on Thursday closed higher on stronger-than-expected U.S. May Philadelphia Fed business outlook index that rose to a 1-year high and was hawkish for Fed policy. The dollar was also boosted by the rise in the 10-year T-note yield to a new 6-3/4 year high of 3.12%, which improved the dollar's interest rate differentials.