The dollar index (DXY00) today is up by +0.37% at an 8-week high. Hawkish comments today from Fed Governor Bowman pushed bond yields higher and boosted the dollar when she said that inflation will remain inflated for some time, so it's not yet appropriate for the Fed to cut interest rates. Also, a slump in the yen to a 37-year low supported the dollar. The dollar fell back from its best levels after US May new home sales fell more than expected to a 6-month low.
US May new home sales fell -11.3% m/m to a 6-month low of 619,000, weaker than expectations of 633,000.
