Forex
Home›Forex›Major Pairs›Dollar edges higher as stocks weaken and Chicago Fed i…
Dollar edges higher as stocks weaken and Chicago Fed index surprises
The dollar index rose 0.17% as the July Chicago Fed national activity index fell less than expected, to -0.08 versus the forecast -0.09.
The US dollar rose on Monday, with the ICE US Dollar Index up 0.17%, as weaker stocks increased demand for dollar liquidity, according to Yahoo Finance.
The outlet cited a July Chicago Fed national activity index that came in slightly stronger than expectations. The index fell 0.14 to -0.08, compared with expectations of -0.09.
The report also pointed to limits on the dollar’s gains from comments that the Treasury could use the Treasury General Account, which stood at $935 billion on August 20, to help fund expanded buybacks of older, higher-yielding government securities.
In currency trading, EUR/USD fell 0.09% as dollar strength weighed on the euro, while markets priced a 96% chance of a 25 basis point ECB rate hike at the September 10 meeting. USD/JPY was up 0.11%, with the yen pressured by interest rate differentials.
Latest closeEUR/USD 1.157 ▲0.4%|USD/JPY 159.31 ▼0.1%|Dollar index 99.64 ▼0.3%