Dollar Recovers Early Losses as T-Note Yields Jump

The dollar index (DXY00) Tuesday rose slightly by +0.02%.  The dollar Tuesday recovered from a 1-1/2 week low and posted modest gains after a jump in T-note yields sparked short covering in the dollar.  The dollar also found support after the Conference Board US May consumer confidence index unexpectedly rose and after Minneapolis Fed President Kashkari said the Fed should take its time before cutting interest rates.   

The Conference Board US May consumer confidence index unexpectedly rose +4.5 to 102.0, stronger than expectations of a decline to 96.0.