
The dollar index (DXY00) today is up slightly by +0.05% and posted a fresh 2-1/2 month high. Today’s retreat in stocks is boosting liquidity demand for the dollar. Also, today’s news that showed that the Oct Richmond Fed manufacturing survey rose to a 4-month high is bullish for the dollar. In addition, dovish comments today from ECB President Lagarde knocked the euro down to a 2-1/2 month low and benefited the dollar.
The US Oct Richmond Fed manufacturing survey rose +7 to a 4-month high of -14, stronger than expectations of -17.