Dollar Supported by Weak Stocks and Higher Bond Yields

The dollar index (DXY00) today is up by +0.38%.  The dollar is moving higher today as the ongoing war with Iran drags on, boosting safe-haven demand for the dollar.  Also, today's +3% jump in crude oil prices may stoke inflation and prompt the Fed to tighten monetary policy, a supportive factor for the dollar.  The dollar added to its gains after the Mar S&P manufacturing PMI unexpectedly increased. US Q4 nonfarm productivity was left unrevised at +1.8%, but Q4 unit labor costs were revised upward to +4. ...