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Barchart
Barchart
Rich Asplund

Dollar Supported by a Weak Yen and Strength in US Consumer Confidence

The dollar index (DXY00) on Tuesday rose by +0.16%.  The dollar moved higher on Tuesday amid weakness in the yen, which fell to a 2-week low against the dollar.  Also, Tuesday's better-than-expected US economic news of Dec S&P composite-20 home prices and Feb consumer confidence was supportive of the dollar.

Gains in the dollar were muted on Tuesday due to the strength of the yuan, which rallied to a 2.75-year high against the dollar.   Also, US trade uncertainty may spur foreign investors to dump dollar assets as President Trump's 10% global tariffs went into effect on Tuesday. 

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