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Barchart
Barchart
Rich Asplund

Dollar Slips as Strength in Stocks Curbs Liquidity Demand

Donald Trump ECB ECB Governing Council Gediminas Simkus Gold Iran Martins Kazaks United States BOJ Islamic Revolutionary Guard Corps

The dollar index (DXY00) today is down by -0.03%.  The dollar gave up an early advance today and turned lower after a rally in stocks reduced liquidity demand for the dollar, following President Trump's announcement that he will indefinitely extend the ceasefire with Iran.  Also, lower T-note yields today have weakened the dollar's interest rate differentials.

Losses in the dollar are limited as concerns about escalation of the US-Iran war are boosting safe-haven demand for the dollar.  Iran seized two ships today in the Strait of Hormuz for "endangering maritime security," and the UK Navy said Islamic Revolutionary Guard Corps gunboats fired upon two other cargo ships.

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