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Barchart
Barchart
Rich Asplund

Dollar Slightly Higher as Weak Eurozone News Pressures Euro

Euro eurozone ECB US Federal Reserve

The dollar index (DXY00) on Tuesday rose by +0.13%.  Higher T-note yields Tuesday strengthened the dollar’s interest rate differentials.  Also, hawkish comments from former Fed Vice Chair Clarida were bullish for the dollar.  Meanwhile, weaker-than-expected Eurozone economic news Tuesday weighed on the euro. 

Former Fed Vice Chair Clarida said the Fed would likely raise interest rates again in this cycle and is "unlikely" to start cutting rates until 2024.

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