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Barchart
Barchart
Rich Asplund

Dollar Supported by Trade Optimism and Higher Bond Yields

The dollar index (DXY00) today is up by +0.18%.  The dollar today is adding to Tuesday’s gains on positive carryover from President Trump’s action over the past weekend to extend the deadline for a 50% tariff on US importers of EU goods by about 5 weeks to July 9 from June 1. The dollar also has support from higher T-note yields.

Gains in the dollar are limited by some negative carryover from last Thursday when the House passed President Trump’s tax and spending plan, which would add to the burgeoning US budget deficit. 

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