The dollar index (DXY00) rose by +0.24% on Monday. The dollar moved higher on Monday as T-note yields soared, with the 10-year T-note yield jumping to a 19-year high of 5.27%, strengthening the dollar’s interest rate differentials. Also, Monday’s stock market weakness boosted demand for dollar liquidity. In addition, hawkish comments from Fed Governor Cook were dollar-supportive when she said the US labor market seems well positioned to handle higher interest rates.
The US Sep Dallas Fed manufacturing survey fell -1.8 to 9.8, a smaller decline than expectations of 7.8.
