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Barchart
Barchart
Rich Asplund

Dollar Gains on Stock Weakness and Higher Bond Yields

The dollar index (DXY00) today is up by +0.11%.  The dollar today is slightly higher as stock weakness has boosted some liquidity demand for the dollar.  Also, higher T-note yields today are supportive of the dollar.  Gains in the dollar are limited after US weekly jobless claims rose more than expected, a dovish factor for Fed policy.

US weekly initial unemployment claims rose +6,000 to a 6-week high of 223,000, showing a weaker labor market than expectations of 220,000.  Also, weekly continuing claims rose +46,000 to a 3-year high of 1.899 million, showing a weaker labor market than expectations of 1.866 million.

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