The dollar index (DXY00) Monday rose +0.08%. The dollar rose slightly on the view the Fed will keep raising interest rates with the odds at 86% for a +25 bp rate hike at the next FOMC meeting on July 25-26. The dollar fell back from its best levels Monday after the Jun ISM manufacturing index unexpectedly fell to a 3-year low.
The U.S. Jun ISM manufacturing index unexpectedly fell -0.9 to 46.0, weaker than expectations of an increase to 47.1 and the steepest pace of contraction in more than three years.
