The dollar index (DXY00) today is up +0.15%, just below Thursday's 6-week high. The dollar is supported by hawkish comments from Fed Governor Christopher Waller, who said he supports a Fed rate increase if inflation doesn't soon slow. Gains in the dollar are limited by today's downward revision to the University of Michigan’s May US consumer sentiment index to a record low. Also, today's rally in stocks curbs liquidity demand for the dollar.
The University of Michigan’s May US consumer sentiment index was revised lower to a record low of 44.8 (data from 1978), weaker than expectations of no change at 48.2.
