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Rich Asplund

Dollar Firms as FOMC Meeting Begins

US Federal Reserve BOJ United States

The dollar index (DXY00) today is up +0.17% and posted a 2-1/2 week high. Better-than-expected US economic news today on May S&P CoreLogic composite-20 home prices, Jun JOLTS job openings, and Jul consumer confidence support the dollar. Also, the start of the 2-day FOMC meeting has sparked short-covering in the dollar.

The US May S&P CoreLogic composite-20 home price index rose +6.81% y/y, stronger than expectations of +6.60% y/y.

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