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Barchart
Barchart
Rich Asplund

Dollar Climbs on Reduced Fed Rate Cut Expectations

BOJ US Federal Reserve United States Ueda Euro

The dollar index (DXY00) Thursday rose by +0.36% and posted a 2-year high. The dollar recovered from early losses Thursday and moved higher on better-than-expected US economic news.  The dollar also had carryover support from Wednesday when the FOMC signaled only 50 bp of interest rate cuts next year, down from a September projection of 100 bp of rate cuts.  Strength in stocks today has curbed some liquidity demand for the dollar.

US weekly initial unemployment claims fell -22,000 to 220,000, showing a stronger labor market than expectations of 230,000.

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