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Barchart
Barchart
Rich Asplund

FOUND: Dollar gains on higher t note yields and weak stocks - What They Never Told You

US Federal Reserve United States BOJ Donald Trump Lisa Cook Ueda ECB Euro Gold

The dollar index (DXY00) on Monday rose by +0.82%.  The dollar moved higher on Monday due to higher T-note yields. Also, weakness in stocks on Monday boosted some liquidity demand for the dollar.  The dollar also found support after the US July new home sales report was better than expected.  The dollar has some negative carryover from last Friday when Fed Chair Powell said downside risks to employment are rising and the shifting balance of risks may warrant adjusting monetary policy. 

The dollar is also pressured on concerns over Fed independence after President Trump said last Friday that he would fire Fed Governor Lisa Cook if she didn't resign amid allegations of mortgage fraud.

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