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Barchart
Barchart
Rich Asplund

FORGOTTEN HISTORY: Dollar edges higher on strength in bond yields - The Untold Story

Villeroy de Galhau United States Bundesbank ECB ECB Governing Council US Federal Reserve

The dollar index (DXY00) Friday rose by +0.03% and posted a 2-1/2 week high. The dollar was supported by Friday’s news of an unexpected increase in the US Nov import price index ex-petroleum, a hawkish factor for Fed policy.  The dollar also found support from stronger interest rate differentials with Friday’s rise in the 10-year T-note yield to a 2-1/2 week high. 

Strength in stocks Friday reduced liquidity demand for the dollar.  The dollar was also undercut by expectations that the Fed will cut interest rates by -25 bp at next week’s FOMC meeting. 

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