U.S. Dollar/British Pound Futures Market News and Commentary
The dollar index (DXY00) on Monday rose +0.173 (+0.19%). March euro-fx futures (E6H1) closed down -0.0031 (-0.26%), and EUR/USD (^EURUSD) fell -0.0028 (-0.23%). March yen futures (J6H1) closed down -0.0015 (-0.15%), and USD/JPY (^USDJPY) rose +0.24 (+0.23%).
The dollar index on Monday rose moderately and posted a 3-week high. Higher T-note yields supported the dollar Monday, along with weakness in the euro and yen. EUR/USD fell to a 1-1/2 week low on lower German bund yields after today's data showed scant consumer price pressures in Germany. USD/JPY rallied to a 6-month high Monday as the yen weakened after the BOJ said that it is prepared to act to keep bond yields from rising too much.
U.S. stock indexes on Monday rose sharply, which reduced the liquidity demand for the dollar. An easing of the Covid pandemic in the U.S. has bolstered optimism that lockdowns and restrictions on the U.S. economy will soon be lifted, which is giving stocks and the d... Read more