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Barchart
Barchart
Rich Asplund

Dollar Rises on Higher Bond Yields and Hawkish FOMC Minutes

The dollar index (DXY00) Wednesday rose by +0.38%.  The dollar on Wednesday added to Tuesday's gains on positive carryover from President Trump's action over the past weekend to extend the deadline for a 50% tariff on US importers of EU goods by about 5 weeks to July 9 from June 1.  

The dollar also had support Wednesday from higher T-note yields.  Gains in the dollar accelerated Wednesday afternoon when the minutes of the May 6-7 FOMC meeting showed policymakers supported keeping interest rates on hold.

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