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Barchart
Barchart
Rich Asplund

Dollar Gains on Positive U.S. Economic News and Higher Bond Yields

The dollar index (DXY00) on Tuesday rose by +0.12%.  The dollar saw support from stronger-than-expected U.S. manufacturing production and NAHB housing reports, which pushed T-note yields higher.  In addition, hawkish Fed comments Tuesday from Chicago Fed President Goolsbee and Richmond Fed President Barkin gave the dollar a boost.

Weakness in the Chinese yuan was supportive for the dollar after weaker-than-expected Chinese economic news knocked the yuan down to a 2-month low Tuesday against the dollar. 

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