U.S. Dollar Index Sep '20 (DXU20)
U.S. Dollar Index Futures Market News and Commentary
The dollar index (DXY00) on Monday rose by +0.17% and is just below last Friday’s 13-month high. The dollar erased early losses on Monday and moved higher after the euro declined when ECB President Lagarde pushed back against any additional tightening of monetary policy by the ECB due to the US-Iran war. The dollar also has carryover support from last Wednesday, when the FOMC projected higher interest rates later this year. In addition, higher T-note yields on Monday have strengthened the dollar’s interest rate differentials and were supportive of the dollar.
The dollar initially moved lower on Monday on reduced safe-haven demand after Iran said there had been “major progress” in overnight discussions with the US over a peace deal. Also, Monday’s -2% fall in WTI crude oil prices is dovish for Fed policy and negative for the dollar.
Iran said there had been “major progress” in all-night discussions with the US over a peace deal following the interim agreement last week... Read more
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The dollar index (DXY00 ) on Monday rose by +0.17% and is just below last Friday’s 13-month high. The dollar erased early losses on Monday and moved...
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