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Barchart
Barchart
Rich Asplund

Dollar Tracks T-Note Yields Higher

ECB US Federal Reserve Centeno United States

The dollar index (DXY00) on Monday rose by +0.42% and posted a 1-week high. The dollar on Monday followed a jump in T-note yields on concern that the markets are perhaps being overly optimistic about the chances for Fed rate cuts early next year.  Also, the fall in EUR/USD Monday to a 2-1/2 week low supported the dollar.  In addition, the weakness in stocks on Monday boosted the liquidity demand for the dollar. 

Monday’s U.S. economic news was bearish for the dollar after Oct factory orders fell -3.6% m/m, weaker than expectations of -3.0% m/m and the biggest decline in 3-1/2 years.

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