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Barchart
Barchart
Rich Asplund

Dollar Gains as the Euro and Yen Retreat

Euro Gold Japan Sanae Takaichi BOJ ECB France Lecornu US Federal Reserve United States

The dollar index (DXY00) on Wednesday extended this week's rally and rose by +0.32% to a 1.75-month high.  Political uncertainty in France and Japan is undercutting the euro and yen, respectively, to the benefit of the dollar.  The dollar added to its gains Wednesday afternoon due to the hawkish minutes of the September 16-17 FOMC meeting.  Strength in stocks on Wednesday reduced liquidity demand and limited gains in the dollar. 

The ongoing shutdown of the US government is bearish for the dollar as the shutdown entered its second week on Monday.  The longer the shutdown is maintained, the more likely the US economy will suffer, a negative factor for the dollar. 

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