The dollar index (DXY00) on Wednesday rose +0.197 (+0.20%). Jun euro-fx futures (E6M0) closed down -0.0044 (-0.41%), and EUR/USD (^EURUSD) fell -0.0029 (-0.27%). Jun yen futures (J6M0) closed up +0.02 (+0.02%), and USD/JPY (^USDJPY) rose +0.07 (+0.06%).
The dollar index on Wednesday posted moderate gains after EUR/USD weakened when EU officials Tuesday night failed to agree on a pandemic rescue package. Higher T-note yields on Wednesday were also supportive for the dollar. The dollar was undercut by dovish Fed comments and the minutes of the Mar 15 FOMC meeting.
U.S. stock indexes rallied sharply Wednesday on hopes the U.S. economy can reopen sooner than earlier thought. President Trump said late Tuesday that his administration is developing plans to reopen parts of the country that haven't been hit by the coronavirus, while keeping hot spot such as New York and New Orleans shuttered for longer.
The dollar index on Wednesday posted moderate gains after EUR/USD weakened when EU officials Tuesday night failed to agree on a pandemic rescue package. Higher T-note yields on Wednesday were also supportive for the dollar. The dollar was undercut by dovish Fed comments and the minutes of the Mar 15 FOMC meeting.
U.S. stock indexes rallied sharply Wednesday on hopes the U.S. economy can reopen sooner than earlier thought. President Trump said late Tuesday that his administration is developing plans to reopen parts of the country that haven't been hit by the coronavirus, while keeping hot spot such as New York and New Orleans shuttered for longer.