U.S. Dollar Index Futures Market News and Commentary
The dollar index (DXY00) on Thursday fell -0.067 (-0.07%). June euro-fx futures (E6M1) closed up +0.0003 (+0.03%), and EUR/USD (^EURUSD) fell -0.0007 (-0.06%). June yen futures (J6M1) closed up + 0.0024 (+0.26%), and USD/JPY (^USDJPY) fell -0.27 (-0.25%).
The dollar index (DXY00) on Thursday posted modest losses and extended this week’s decline down to a 4-week low. The dollar is under pressure after a rally in U.S. stock indexes to record highs Thursday curbed the liquidity demand for the dollar. Also, the dollar was undercut by Thursday’s drop in the 10-year T-note yield to a 1-month low. However, the dollar recovered nearly all of its losses on Thursday’s raft of stronger-than-expected U.S. economic data.
EUR/USD (^EURUSD) on Thursday fell back from a 6-week high and is modestly lower on concern that a worsening of the pandemic in Europe will force governments to extend lockdowns that curb economic activity. USD/JPY (^USDJPY) dropped to a 3-week low as... Read more