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Barchart
Barchart
Rich Asplund

Dollar Gains on Weak Stocks and Ongoing Banking Turmoil

PacWest Bancorp Inflation United States ECB

The dollar index (DXY00) on Thursday rose by +0.57%.  The dollar on Thursday rallied to a 1-week high as weakness in stocks boosted liquidity demand for the dollar.  The dollar is also finding support as a safe haven from the turmoil in the banking sector after PacWest Bancorp plunged when it said deposits fell last week. 

The U.S. Apr final-demand PPI eased to a 2-year low of +2.3% y/y from +2.7% in March, weaker than expectations of +2.5% y/y.  The Apr PPI ex-food and energy eased to a 2-year low of +3.2% y/y from +3.4% y/y in March, weaker than expectations of +3.3% y/y. 

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