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Barchart
Barchart
Rich Asplund

Dollar Firms on Speculation of Month-End Buying

BOJ Himino ECB eurozone Gold

The dollar index (DXY00) today is up by +0.53%.  Weakness in the yen is boosting the dollar after dovish comments today from BOJ Deputy Governor Himino undercut the yen.  Also, stock weakness today has boosted some liquidity demand for the dollar.  In addition, the dollar is climbing on speculation investors are buying the dollar for month-end portfolio rebalancing.

The markets are discounting the chances at 100% for a -25 bp rate cut at the Sep 17-18 FOMC meeting and at 35% for a -50 bp rate cut at that meeting.

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