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Barchart
Barchart
Rich Asplund

BIZARRE: Dollar sees support from safe haven after a global it outage - You Need To See This

The dollar index (DXY00) today is up by +0.16%.  The dollar is mildly higher today after a global IT outage prompted risk aversion in asset markets and sparked some safe-haven buying of the dollar. Also, higher T-note yields today are bullish for the dollar.  Gains in the dollar are limited after a recovery in US stock index futures from overnight losses curbed liquidity demand for the dollar. 

The markets are discounting the chances for a -25 bp rate cut at 5% for the July 30-31 FOMC meeting and 99% for the following meeting on Sep 17-18.

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