
The dollar index (DXY00) on Tuesday rose by +0.26%. Weakness in stocks on Tuesday boosted the liquidity demand for the dollar. The dollar also has support on speculation Fed Chair Powell will remain hawkish when he speaks Friday at the Fed’s annual symposium in Jackson Hole, Wyoming. However, gains in the dollar were limited after T-note yields fell. Tuesday’s U.S. economic news was mixed for the dollar.
U.S. Jul existing home sales fell -2.2% to a 6-month low of 4.07 million, weaker than expectations of 4.15 million.