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Barchart
Barchart
Rich Asplund

Dollar Weighed Down by Strength in the British Pound

The dollar index (DXY00) today is down slightly by -0.07%.  Strength in the British pound (^GBPUSD) is weighing on the dollar as GBP/USD rallied to a 2-1/3 year high today.  However, higher T-note yields today are limiting losses in the dollar.  Also, heightened geopolitical risks in the Middle East support safe-haven demand for the dollar.  Today’s US economic news was mixed for the dollar.

June SP CoreLogic US composite-20 home price index growth eased to a 6-month low of +6.47% y/y from +6.88% y/y in May but was stronger than expectations of +6.14% y/y.

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