
The dollar index (DXY00) Monday recovered from a 5-week low and finished up by +0.12%. Higher T-note yields on Monday supported the dollar. The dollar also has support from increased safe-haven demand after the attempted assassination of former president Donald Trump on Saturday. Monday’s strength in stocks reduced liquidity demand for the dollar and limited gains in the dollar. Also, dovish comments from Fed Chair Powell weighed on the dollar.
Monday’s US economic news supported the dollar after the July Empire manufacturing survey of general business conditions index fell -0.6 to -6.6, stronger than expectations of -7.6.