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Barchart
Barchart
Rich Asplund

BIZARRE: Dollar supported by weak stocks and iran war | Mind Blowing Facts

Iran ECB Joachim Nagel ECB Governing Council Gold BOJ Bundesbank Interest Rates PBOC US Federal Reserve

The dollar index (DXY00) today is up by +0.50%.  The dollar is climbing today as weakness in stocks has boosted some liquidity demand for the dollar.  Also, the ongoing war in Iran has boosted demand for the dollar as a safe haven.  In addition, higher T-note yields today are strengthening the dollar’s interest rate differentials.  The dollar also has carryover support from Wednesday, when Fed Chair Powell said there will be no Fed rate cut unless there is progress on inflation. 

Swaps markets are discounting the odds at 12% for a +25 bp rate hike at the April 28-29 FOMC meeting.

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