The dollar index (DXY00) today is up by +0.19%. Higher T-note yields today have strengthened the dollar’s interest rate differentials and supported the dollar. Also, hawkish comments today from Minneapolis Fed President Kashkari were bullish for the dollar when he said it would likely take a year or two for the US to get back to 2% inflation. The dollar was undercut by today’s weaker-than-expected U.S. economic reports.
US weekly initial unemployment claims fell -5,000 to 238,000, signaling a weaker labor market than expectations of 235,000.
