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Barchart
Barchart
Rich Asplund

Dollar Gains on British Pound Weakness

The dollar index (DXY00) today is up by +0.10% and posted a 2-1/4 month high. Today’s weaker-than-expected UK consumer price report for September is dovish for BOE policy and undercut the British pound (^GBPUSD) to the benefit of the dollar.  The dollar also found support on today’s stronger-than-expected US Sep import price index ex-petroleum report, a hawkish factor for Fed policy.  Lower T-note yields today are limiting the upside in the dollar.

The US Sep import price index ex-petroleum rose +0.2% m/m, stronger than expectations of +0.1% m/m.

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