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Barchart
Barchart
Rich Asplund

Record High Stocks Weigh on the Dollar

The dollar index (DXY00) this morning is slightly lower but remains above Thursday’s 3-week low.  The dollar is under pressure today from the rally in the S&P 500 to a new record high, which has curbed liquidity demand for the dollar.  Lower T-note yields today are also undercutting the dollar. 

The markets are discounting the chances for a -25 bp rate cut at 2% for the March 19-20 FOMC meeting and 25% for the following meeting on April 30-May 1.

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