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Barchart
Barchart
Rich Asplund

Increased Liquidity Demand Boosts the Dollar as Stocks Slump

The dollar index (DXY00) today is up by +0.14%.  The dollar today recovered from overnight losses and climbed to a 1-week high as the slump in equity prices boosted liquidity demand for the dollar. Gains in the dollar are limited due to lower T-note yields today.  Also, today’s decline in the Dec MNI Chicago PMI to a 7-month low was bearish for the dollar.

US Nov pending home sales rose +2.2% m/m, stronger than expectations of +0.8% m/m.

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