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Rich Asplund

HISTORICAL FACTS: Dollar gains as t note yields climb | History Defined

Bostic BOJ Atlanta Fed Himino US Federal Reserve United States Williams ECB Euro Interest Rates

The dollar index (DXY00) Thursday rose by +0.04% and posted a 1-3/4 month high. The dollar found support on Thursday’s stronger-than-expected US Sep CPI report, a hawkish factor for Fed policy. Also, hawkish comments from Atlanta Fed President Bostic were bullish for the dollar when he said he's "open to skipping an interest rate cut at the November FOMC meeting.”  In addition, the weakness in stocks Thursday boosted liquidity demand for the dollar. 

The dollar fell back from its best levels Thursday after US weekly jobless claims jumped to a 14-month high, a dovish factor for Fed policy.  Also, dovish comments from New York Fed President Williams undercut the dollar when he said interest rates will return to normal “over time.”

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