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Barchart
Barchart
Rich Asplund

Dollar Climbs on Strong U.S. Manufacturing News

LAGARDE ECB United States eurozone BOJ Euro Jibun Bank

The dollar index (DXY00) on Tuesday rose by +0.70%.  The dollar on Tuesday recovered from a 1-month low and posted moderate gains after stronger-than-expected U.S. manufacturing news pushed T-note yields higher.  Also, weakness in EUR/USD supported the dollar on dovish comments from ECB President Lagarde and weaker-than-expected Eurozone economic news.

Tuesday’s U.S. economic news supported the dollar after the Oct S&P U.S. manufacturing PMI unexpectedly rose +0.2 to a 6-month high of 50.0, stronger than expectations of a decline to 49.5.

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