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Barchart
Barchart
Rich Asplund

Dollar Finishes Higher on Weak Stocks and US Economic Strength

United States BOJ Euro eurozone Gold Ueda ECB Japan

The dollar index (DXY00) Friday rose by +0.20% and posted a 7-week high. The dollar strengthened Friday as weakness in stocks boosted liquidity demand for the dollar.  Also, weaker-than-expected Eurozone PMI reports on Friday undercut the euro, and the yen fell on weaker-than-expected Japanese CPI news.  The dollar extended its gains on Friday’s better-than-expected US June S&P PMI reports.

The US June S&P manufacturing PMI unexpectedly rose +0.4 to 51.7, stronger than expectations of a decline to 51.0.  Also, the June S&P services PMI unexpectedly rose +0.3 to a 2-year high of 55.1, stronger than expectations of a decline to 54.0.

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