The dollar index (DXY00) is up by +0.10% today. Political risk and social unrest in France are weighing on the euro, benefiting the dollar. However, the dollar fell from its best level after the US Oct NAHB housing market index fell more than expected to a 14-year low. The dollar is also under pressure after the Chinese yuan rallied to a 4-year high today, undercutting the dollar. In addition, today’s stock strength has reduced demand for dollar liquidity.
The US Oct NAHB housing market index fell -3 to a 14-year low of 29, weaker than expectations of 31.