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Barchart
Barchart
Rich Asplund

Dollar Post Modest Gains as Bond Yields Climb

US Federal Reserve ECB

The dollar index (DXY00) on Friday rose by +0.04%.  Higher T-note yields on Friday supported modest gains in the dollar. Strength in the yuan limited gains in the dollar as the yuan climbed to a 6-3/4 month high against the dollar Friday. Also, expectations for the Fed to begin cutting interest rates in 2024 are bearish for the dollar.  

U.S. economic news Friday was dovish for Fed policy and bearish for the dollar.  The Dec MNI Chicago PMI fell -8.9 to 46.9, weaker than expectations of 50.0.

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