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Barchart
Rich Asplund

Dollar Recovers Early Losses on Hawkish Fed Governor Comments

ECB Bowman US Federal Reserve Inflation LAGARDE Shigeru Ishiba Gold BOJ Dallas Fed Interest Rates

The dollar index (DXY00) today is up by +0.15%.  The dollar today recovered from overnight losses and is moderately higher on hawkish comments from Fed Governor Bowman that reduced chances for a -50 bp rate cut at the November FOMC meeting when she said core inflation remains "uncomfortably" above the Fed's 2% target.  Also, today’s better-than-expected US Chicago PMI and Dallas Fed manufacturing reports supported the dollar. 

The US Sep MNI Chicago PMI unexpectedly rose +0.5 to 46.6, stronger than expectations of -0.1 to 46.0.

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