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Barchart
Barchart
Rich Asplund

Dollar Gains on Hawkish FOMC Minutes

ECB US Federal Reserve Gold Inflation

The dollar index (DXY00) Wednesday rose +0.32%.  The dollar on Wednesday recovered from modest losses and moved higher on strength in T-note yields.  Also, a slump in stocks boosted the liquidity demand for the dollar.  Gains in the dollar accelerated Wednesday after the release of the hawkish minutes of the Jun 13-14 FOMC meeting.  Wednesday’s weaker-than-expected U.S. May factory orders report was a bearish factor for the dollar.

U.S. May factory orders rose +0.3% m/m, weaker than expectations of +0.8% m/m.

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