The dollar index (DXY00) today is up by +0.34%. The dollar is climbing today on signs of strength in the economy after weekly jobless claims fell to a 1-month low and the May S&P manufacturing PMI unexpectedly increased, hawkish factors for Fed policy.
However, gains in the dollar are limited after the House today passed President Trump's tax and spending plan, which will add to the burgeoning US budget deficit. The bill now goes to the Senate for approval where it will undergo some changes.
