The dollar index (DXY00) rose by +0.29% on Monday. The dollar pushed higher on Monday amid higher T-note yields, which strengthened the dollar’s interest rate differentials. Also, Monday’s +5% surge in WTI crude oil prices raised inflation expectations and may persuade the Fed to tighten monetary policy, a supportive factor for the dollar. Hawkish comments on Monday from Cleveland Fed President Beth Hammack were dollar-supportive when she said she is not seeing a problem with the job market and that inflation is not coming down on its own. She added that “now is the time” for us to take action,…
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