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Barchart
Barchart
Rich Asplund

HISTORICAL FACTS: Dollar pressured by rising stocks - The Untold Story

The dollar index (DXY00) on Tuesday fell by -0.14%.  The dollar gave up overnight gains and turned lower on Tuesday as T-note yields fell after the weekly ADP employment change showed the fewest new jobs added in five weeks, a dovish factor for Fed policy.  The dollar extended its losses on Tuesday after stocks rallied, which curbed liquidity demand for the dollar.

Losses in the dollar were limited after Feb pending home sales unexpectedly increased, and as the war against Iran enters its eighteenth day on Tuesday with no end in sight, boosting safe-haven demand for the dollar.

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