
The dollar index (DXY00) on Tuesday rose slightly by +0.14% as US political factors continued to buffet the FX markets. Bearish factors for the dollar include Tuesday’s -1.0 bp decline in the 10-year T-note yield and the weaker-than-expected US economic reports.
June US existing home sales fell -5.4% to 3.89 million, weaker than market expectations for a -3.2% drop to 3.98 million. Home sales continue to be undercut by high mortgage rates and high home prices.