The dollar index (DXY00) today is up by +0.35% and posted a 2-3/4 month high. Higher T-note yields today boosted the dollar’s interest rate differentials and supported the dollar. Also, the weakness in stocks today has fueled some liquidity demand for the dollar. The dollar fell back from its best level after US Sep existing home sales unexpectedly fell to a 14-year low.
US Sep existing home sales unexpectedly fell -1.0% m/m to a 14-year low of 3.84 million, weaker than expectations of an increase to 3.88 million.
