The dollar index (DXY00) on Monday rose by +0.30%. The dollar moved higher Monday on carryover support on concern that last week's CPI and PPI reports showed an acceleration of prices that could keep the Fed from cutting interest rates at next month's FOMC meeting. The reduced chances of a Fed rate cut pushed the 10-year T-note yield up to a 2-week high on Monday at 4.35%. Gains in the dollar were limited after Monday's news showed the Aug NAHB housing market index unexpectedly declined.
The US Aug NAHB housing market index unexpectedly fell -1 to 32, weaker than expectations of an increase to 34.
