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Barchart
Barchart
Rich Asplund

Dollar Edges Higher on Strength in Bond Yields

Villeroy de Galhau United States Bundesbank ECB ECB Governing Council US Federal Reserve

The dollar index (DXY00) Friday rose by +0.03% and posted a 2-1/2 week high. The dollar was supported by Friday’s news of an unexpected increase in the US Nov import price index ex-petroleum, a hawkish factor for Fed policy.  The dollar also found support from stronger interest rate differentials with Friday’s rise in the 10-year T-note yield to a 2-1/2 week high. 

Strength in stocks Friday reduced liquidity demand for the dollar.  The dollar was also undercut by expectations that the Fed will cut interest rates by -25 bp at next week’s FOMC meeting. 

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