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Barchart
Rich Asplund

Dollar Boosted by Higher T-note Yields

Donald Trump Lisa Cook United States Euro Gold US Federal Reserve

The dollar index (DXY00) today is up by +0.37%.  The dollar is moving higher today due to an increase in T-note yields, which strengthened the dollar's interest rate differentials. Also, weakness in the euro today is supportive of the dollar after EUR/USD fell to a 3-week low. 

Gains in the dollar are limited due to concern over the Fed's independence and fears about capital flight with President Trump’s move to fire Fed Governor Lisa Cook.  If Mr. Trump succeeds in firing Fed Governor Cook, foreign investors may lose faith in the Fed and the dollar and swap their dollar assets into non-dollar investments. 

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