
The dollar index (DXY00) Thursday finished up +0.30% and posted a 13-month high. The dollar Thursday recovered from early losses and moved higher as a rebound in T-note yields strengthened the dollar’s interest rate differentials after T-note yields recovered from early losses and moved higher. Thursday’s US economic news was mixed for the dollar.
The dollar on Thursday initially moved lower based on dovish comments from New York Fed President Williams and Chicago Fed President Goolsbee, who said they expect the Fed to keep cutting interest rates until rates are closer to neutral levels.