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Barchart
Barchart
Rich Asplund

Dollar Declines on Higher Stocks and Lower T-Note Yields

BOJ Ueda United States ECB

The dollar index (DXY00) this morning is down by -0.21% at a 2-1/2 week low. Strength in stocks today has curbed liquidity demand for the dollar.  The dollar is also under pressure today from position squaring ahead of Wednesday’s US consumer price report for March.  In addition, lower T-note yields today are undercutting the dollar. 

The markets are discounting the chances for a -25 bp rate cut at 5% for the next FOMC meeting on April 30-May 1 and 57% for the following meeting on June 11-12.

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