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Barchart
Barchart
Rich Asplund

Hawkish Fed Comments Lift the Dollar

The dollar index (DXY00) Tuesday rose by +0.33%.  The dollar on Tuesday rose moderately as comments from several Fed officials dampened speculation the Fed was finished tightening monetary policy. A decline in T-note yields Tuesday limited gains in the dollar. 

U.S. economic news Tuesday was bearish for the dollar.  The Sep trade deficit increased to -$61.5 billion from -$58.7 billion in Aug, wider than expectations of -$59.8 billion.  Also, Sep consumer credit rose +$9.057 billion, weaker than expectations of +$9.500 billion.

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