U.S. Dollar/Euro FX Futures Market News and Commentary
The dollar index (DXY00) on Wednesday rose +0.122 (+0.13%). March euro-fx futures (E6H1) closed down -0.0019 (-0.16%), and EUR/USD (^EURUSD) fell -0.0010 (-0.17%). March yen futures (J6H1) closed down -0.0020 (-0.21%), and USD/JPY (^USDJPY) rose +0.26 (+0.24%).
The dollar index on Wednesday posted moderate gains but remained below Tuesday's 3-1/2 week high. The dollar on Wednesday found support from higher T-note yields. EUR/USD moved lower as ECB officials continue to try to jawbone bond yields lower. USD/JPY rallied to a fresh 6-1/2 month high Wednesday as the yen weakened on dovish BOJ comments.
U.S. stock indexes were under pressure Wednesday, which boosted some liquidity demand for the dollar. Higher T-note yields undercut stocks, along with weaker-than-expected economic data. In addition, a slump in technology stocks has weighed on the overall market.
Wednesday's U.S. economic data was negative for the dollar after the U.S. Feb A... Read more