The dollar index (DXY00) today is up by +0.20%. The dollar is moving higher today with T-note yields on hawkish comments from Kansas City Fed President Schmid, who said the Fed should wait to see how tariffs and other policies impact the economy before adjusting interest rates. Mr. Schmid's comments echoed hawkish remarks this week from other Fed officials, including Fed Chair Powell, New York Fed President Williams, and Atlanta Fed President Bostic, who stated that they are in no hurry to cut interest rates.
The dollar fell back from its best levels after US May new home sales fell -13.7% m/m to a 7-month low of 623,000, weaker than expectations of -6.7% m/m to 693,000.
