
The dollar index (DXY00) Wednesday rose by +0.48% and posted a 2-week high. The dollar rallied Wednesday on the rise in the 10-year T-note yield to a 4-week high. The dollar also garnered some support from Wednesday’s stronger-than-expected May Richmond Fed manufacturing outlook survey. In addition, the weakness in stocks on Wednesday boosted liquidity demand for the dollar.
The US May Richmond Fed manufacturing outlook survey rose +7 to a 7-month high of 0, stronger than expectations of no change at -7.