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Barchart
Barchart
Rich Asplund

Dollar Gains on Better-Than-Expected US Economic News

The dollar index (DXY00) today is up by +0.12%. The dollar is moving higher today, supported by stronger-than-expected US economic reports on May retail sales and May pending home sales. Also, short covering ahead of today's conclusion of the 2-day FOMC meeting is supportive of the dollar.

The dollar's focus will turn to the conclusion of the 2-day FOMC meeting today, the first under the leadership of new Fed Chair Kevin Warsh. While the Fed is expected to keep interest rates unchanged, the spotlight will be on how Mr. Warsh navigates the post-meeting press conference and the outlook for inflation.

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