The dollar index (DXY00) is up by +0.26%. The dollar is moving higher today and found support on better-than-expected US economic reports on Dec capital goods new orders, Dec housing starts and building permits, and Jan manufacturing production. Also, higher T-note yields today have strengthened the dollar’s interest rate differentials. Gains in the dollar are limited as stocks rally, which reduces liquidity demand for the dollar.
US MBA mortgage applications rose +2.8% in the week ended February 13, with the purchase mortgage sub-index down -2.7% and the refinancing mortgage sub-index up +7.1%. The average 30-year fixed rate mortgage fell -4 bp to 6.17% from 6.21% in the prior week.
