
The dollar index (DXY00) today is up +0.22% on the slightly hawkish CPI report. The dollar index is also seeing support from today’s +3.9 bp rise in the 10-year T-note yield, which modestly improved the dollar’s interest rate differentials.
The dollar index is seeing support today after the markets slightly dialed back expectations for Fed rate cuts over the next several meetings after today’s CPI report.