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Barchart
Barchart
Rich Asplund

Dollar Rises and Gold Falls as Global Bond Yields Climb

ECB Gold LAGARDE Bundesbank United States

The dollar index (DXY00) today is up by +0.12% at a 1-week high.  Higher T-note yields today are supporting moderate gains in the dollar.  Also, the weakness in stocks today has boosted some liquidity demand for the dollar.  The dollar fell back from its best levels after US Apr existing home sales unexpectedly declined.  Also, today’s rally in the British pound (^GBPUSD) to a 2-month high is negative for the dollar.

US Apr existing home sales unexpectedly fell -1.9% m/m to 4.14 million, versus expectations of an increase to 4.23 million.

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