The dollar index (DXY00) Tuesday rose by +0.06% and posted a fresh 2-1/2 month high. Higher T-note yields Tuesday supported modest gains in the dollar. Also, Tuesday’s news that showed that the Oct Richmond Fed manufacturing survey rose to a 4-month high was bullish for the dollar. In addition, dovish ECB comments Tuesday from ECB President Lagarde and ECB Governing Council member Rehn knocked the euro down to a 2-1/2 month low and benefited the dollar.
The US Oct Richmond Fed manufacturing survey rose +7 to a 4-month high of -14, stronger than expectations of -17.
