Get all your news in one place.
100's of premium titles.
One app.
Start reading
Barchart
Barchart
Rich Asplund

Dollar Moves Higher as Weak Stocks Boost Liquidity Demand

The dollar index (DXY00) climbed to a 13-month high on Tuesday and finished up by +0.36%. The dollar rallied on Tuesday's plunge in equity markets, boosting liquidity demand for the currency. The dollar also has carryover support from last Wednesday, when the FOMC projected higher interest rates later this year. Tuesday's US economic news was mixed for the dollar as the Jun S&P manufacturing PMI unexpectedly increased, but the Jun Richmond Fed manufacturing survey of current conditions fell more than expected.

The US Jun S&P manufacturing PMI unexpectedly rose +0.6 to 55.7, stronger than expectations of a decline to 54.6 and the strongest pace of expansion in 4 years.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.