The dollar index (DXY00) this morning is up by +0.06%. Hawkish comments from Minneapolis Fed President Kashkari supported the dollar when he said he questions if Fed policy is restrictive enough given recent inflation data. Lower T-note yields today are limiting gains in the dollar. The yen is under pressure today after a Japanese government official suggested the bar for additional Japanese government intervention in currency markets to support the yen may be higher than markets anticipate.
Minneapolis Fed President Kashkari said that given recent inflation data, he questions whether Fed policy is restrictive enough to return price growth to the Fed's 2% target.
