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Barchart
Barchart
Rich Asplund

Dollar Recovers as Bond Yields Rise and Stocks Fall

ECB Gold US Federal Reserve

The dollar index (DXY00) Monday rose by +0.09%.  The dollar on Monday recovered from early losses and posted modest gains.  Higher T-note yields today were supportive of the dollar.  Also, the weakness in stocks on Monday boosted some liquidity demand for the dollar.

The dollar on Monday initially moved lower on strength in the yuan after Chinese leaders signaled it would expand fiscal spending and ramp up “extraordinary policy adjustment” to boost the economy.  Also, an unexpected decline in US Oct wholesale sales was bearish for the dollar. In addition, the dollar is also weighed down by expectations that the FOMC will cut interest rates by 25 bp at next week’s policy meeting. 

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