Dollar Recovers as T-note Yields Climb

The dollar index (DXY00) today recovered from a 1.5-month low and is up by +0.08%.  Higher T-note yields today strengthened the dollar's interest rate differentials and sparked short covering in the dollar.  The dollar today initially whipsawed lower and then higher after preliminary benchmark payroll revisions to US payrolls in the year through March 2025 showed fewer jobs than previously stated.  Limiting the upside in the dollar are the increased expectations for Fed easing through year-end. The dolla ...