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Barchart
Barchart
Rich Asplund

Dollar Weaker as Stocks Rally

The dollar index (DXY00) today posted a 5-week low and is trading slightly lower.  Today’s strength in stocks has reduced liquidity demand for the dollar.  Losses in the dollar are limited by higher T-note yields.  The dollar also has support from increased safe-haven demand after the attempted assassination of former president Donald Trump on Saturday. 

Today’s US economic news supported the dollar after the July Empire manufacturing survey of general business conditions index fell -0.6 to -6.6, stronger than expectations of -7.6.

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