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US Dollar Gains on Higher T-note Yields and Hawkish Fed Comments
The dollar index (DXY00) Thursday rose by +0.34%. Higher T-note yields Thursday strengthened the dollar’s interest rate differentials and supported the dollar. Also, hawkish comments Thursday from Minneapolis Fed President Kashkari were bullish for the dollar when he said it would likely take a year or two for the US to get back to 2% inflation. Thursday’s weaker-than-expected US economic reports were bearish for the dollar. US weekly initial unemployment claims fell -5,000 to 238,000, signaling a weaker labor market than expectations of 235,000. US May housing starts unexpectedly fell -5.5% m/m to a 4-year low ... (full story)
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- Posted: Jun 20, 2024 11:03pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,071
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