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Barchart
Barchart
Rich Asplund

Dollar Firms on Higher T-Note Yields

The dollar index (DXY00) today is up by +0.29%.  The dollar today is higher on some mild short covering after two days of losses.  The dollar also garnered some support after US Q1 nonfarm productivity rose as expected. Higher T-note yields today are favorable for the dollar. 

Limiting gains in the dollar was a larger-than-expected increase in weekly US jobless claims, a dovish factor for Fed policy.  Also, strength in the yen weighed on the dollar as the yen rallied to a 1-3/4 month high today.   

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