The dollar index (DXY00) today is up by +0.39% at a 1.5-week high. The dollar is moving higher today amid weakness in the yen, which tumbled to a 9.75-month low on concern that the Japanese government will support a stimulus package that would substantially increase Japan's debt burden. Today's US trade news was also supportive of the dollar after the Aug trade deficit narrowed more than expected.
US MBA mortgage applications fell -5.2% in the week ended November 14, with the purchase mortgage sub-index down -2.3% and the refinancing sub-index down -7.3%. The average 30-year fixed rate mortgage rose +3 bp to 6.37% from 6.34% in the prior week.
