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Barchart
Barchart
Rich Asplund

Dollar Climbs as Stocks Slump

The dollar index (DXY00) today is up by +0.29% at a 3-month high.  Today's slump in equity markets has boosted liquidity demand for the dollar.  The dollar also had carry-over support from Fed Chair Powell's warning last week that another rate cut in December is not a foregone conclusion.

Bearish factors for the dollar include lower T-note yields today and the weaker-than-expected report on US Oct Wards total vehicle sales. 

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