The dollar index (DXY00) today is up by +0.25%. The dollar is trading higher today in hopes of de-escalating the US-China trade war. Bloomberg reported that the Chinese government is considering suspending the 125% tariffs on some US imports, including medical equipment and industrial chemicals like ethane. The dollar also garnered support after the University of Michigan US Apr consumer sentiment index was unexpectedly revised upward.
Gains in the dollar are limited as T-note yields are lower after Thursday's dovish Fed comments from Cleveland Fed President Hammack and Fed Governor Waller bolstered speculation the Fed could cut interest rates as soon as June.
