The dollar index (DXY00) today is down by -0.09%. The dollar is slightly lower due to the strength of the Chinese yuan, which rose to a 2.5-year high against the dollar today. Losses in the dollar are limited amid higher T-note yields and slightly hawkish comments from Richmond Fed President Tom Barkin, who said the US economic outlook is improving and that inflation is still running above the Fed's goal.
The dollar still has carryover support from last Friday when President Trump nominated Keven Warsh as the next Fed Chair. Mr. Warsh is seen as more hawkish than other Fed Chair candidates and often emphasized inflation risks during his tenure as a Fed Governor from 2006-2011.
