U.S. Dollar Index Futures Market News and Commentary
The dollar index (DXY00) on Friday rallied moderately by +0.37 (+0.52%). June euro-fx futures (E6M1) closed -0.00665 (-0.55%), and EUR/USD (^EURUSD) fell -0.00643 (-0.53%). June yen futures (J6M1) closed -0.0023 (-0.25%), and USD/JPY (^USDJPY) rose +0.386 (+0.35%).
The dollar index (DXY00) on Friday rallied moderately on some technical strength after edging to a 1-week high. The dollar also saw support from higher dollar interest rate differentials, with the 10-year T-note yield rising +3.0 bp to 1.462%.
Friday's strong U.S. consumer sentiment report was also a supportive factor for the dollar. The preliminary-June University of Michigan U.S. consumer sentiment index rose by +3.5 points to 86.4, which was stronger than expectations for a +1.3 point increase to 84.2.
The markets are expecting the FOMC at its meeting next week to leave its key policy variables unchanged, but there is a good chance that the FOMC will start discussing when it should begin tapering... Read more