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Barchart
Barchart
Rich Asplund

Dollar Moves Lower as Equity Markets Strengthen

Oil US Federal Reserve BOJ Gold Inflation Monetary Policy Euro eurozone PBOC

The dollar index (DXY00) today is down by -0.13%. Today's stock rally has curbed liquidity demand for the dollar. However, losses in the dollar are limited as today's +1% gain in WTI crude oil prices has strengthened inflation expectations and could prompt the Fed to keep monetary policy tight, a supportive factor for the dollar.

The swaps markets are discounting the odds at 32% for a +25 bp rate hike at the next FOMC meeting on July 28-29.

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