U.S. Dollar/Euro FX Futures Market News and Commentary
The dollar index (DXY00) on Thursday rose +0.745 (+0.82%). September euro-fx futures (E6U1) closed down -0.0108 (-0.90%), and EUR/USD (^EURUSD) fell -0.0089 (-0.74%). September yen futures (J6U1) closed up +0.0020 (+0.22%), and USD/JPY (^USDJPY) fell -0.44 (-0.40%).
The dollar index (DXY00) on Thursday extended Wednesday’s rally up to a 2-month high. The dollar had carry-over support from Wednesday when the FOMC brought forward its rate-hike forecast. EUR/USD tumbled to a 2-month low Thursday after ECB chief economist Lane downplayed the chances of the ECB tapering its bond purchases anytime soon. USD/JPY moved lower as the yen strengthened after the Japanese government said it would end the pandemic state emergency for its most populous prefectures on June 20 as planned.
The dollar has carry-over support from Wednesday on a hawkish FOMC. The FOMC raised its U.S. 2021 GDP forecast to 7% from 6.5% in March and raised its core PCE estimate to 3.0% from 2.2% in March... Read more