
The dollar index (DXY00) Monday rose by +0.12%. Higher T-note yields Monday supported moderate gains in the dollar. Also, hawkish comments from several Fed presidents were bullish for the dollar. However, the upside in the dollar was contained as Monday’s rally in stocks curbed liquidity demand for the dollar.
Cleveland Fed President Mester said she doesn't think inflation will come down quickly and doesn't believe three rate cuts in 2024 are still appropriate.