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Barchart
Barchart
Rich Asplund

Dollar Climbs on Weak Stocks and Hawkish Fed Comments

US Federal Reserve Goolsbee Williams Chicago Fed New York Fed ECB Stournaras United States BOJ

The dollar index (DXY00) Friday rose by +0.21% and posted a 2-week high. The weakness in stocks Friday boosted liquidity demand for the dollar.  Hawkish comments Friday from New York Fed President Williams and Chicago Fed President Goolsbee were also positive for the dollar when they signaled their support for steady Fed policy. 

New York Fed President Williams said, "The current modestly restrictive stance of the Fed's monetary policy is entirely appropriate given the solid labor market and inflation still running somewhat above our 2% goal."

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