The dollar index (DXY00) is trading slightly higher by +0.06%. The main supportive factor is today’s +2.5 bp rise in the 10-year T-note yield, which improved the dollar’s interest rate differentials. The dollar also has carry-over support from Fed Chair Powell’s warning last week that another rate cut in December is not a foregone conclusion.
Bearish factors for the dollar today include the weaker-than-expected US manufacturing PMI report and dovish comments from Fed Governor Miran.
