
The dollar index (DXY00) this morning is up by +0.48%. The dollar is moving higher today after US nonfarm payrolls rose more than expected, bolstering expectations that the Fed will be in no hurry to lower interest rates. Higher T-note yields today are also supportive of the dollar. Today, strength in equities is curbing liquidity demand for the dollar.
US Mar nonfarm payrolls rose +303,000, stronger than expectations of +214,000 and the biggest increase in 10 months. The Mar unemployment rate fell -0.1 to 3.8%, right on expectations.