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Barchart
Rich Asplund

Dollar Supported by Higher Bond Yields and Hawkish Fed Comments

US Federal Reserve Goolsbee BOJ Chicago Fed United States Ueda ECB Inflation

The dollar index (DXY00) today is up by +0.19% on support from higher T-note yields.  Also, hawkish comments today from Chicago Fed President Goolsbee boosted the dollar when he said the next Fed rate cut may take longer than anticipated because of economic uncertainty.  In addition, weakness in the British pound benefits the dollar after weaker-than-expected UK Feb CPI knocked GBP/USD down to a 2-week low.  Gains in the dollar are limited after US Feb core capital goods new orders unexpectedly declined.

US MBA mortgage applications fell -2.0% in the week ended March 21, with the purchase mortgage sub-index up +0.7% and the refinancing mortgage sub-index down -5.3%.  The average 30-year fixed rate mortgage fell -1 bp to 6.71% from 6.72% in the prior week. 

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