U.S. Dollar Index Futures Market News and Commentary
The dollar index (DXY00) on Wednesday fell -0.161 (-0.17%). EUR/USD (^EURUSD) rose +0.0020 (+0.17%). USD/JPY (^USDJPY) fell -0.10 (-0.09%). The dollar index on Wednesday posted moderate losses but remained above Tuesday’s 3-week low. A rally in the S&P 500 Wednesday to a 1-1/2 month high curbed liquidity demand for the dollar. Lower T-note yields Wednesday also weighed on the dollar.
EUR/USD (^EURUSD) on Wednesday moved higher but remained below Tuesday’s 3-week high. EUR/USD garnered support Wednesday on hawkish comments from ECB Governing Council member Holzmann who warned "the current low-interest-rate environment is prompting financial participants searching for yield to take higher risks, which could sow the seeds of a future financial crisis.”
USD/JPY (^USDJPY) on Wednesday moved moderately lower. USD/JPY fell back from a 3-3/4 year high Wednesday as lower T-Note yields sparked short covering in the yen. USD/JPY also fell back on strong Japanese trade dat... Read more