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Dollar Inches Higher on US Economic Strength

Currency & FXEconomic DataGeopolitics & WarMarket Technicals & Flows

The dollar index (DXY00) is up 0.02% as the greenback found support from a stronger-than-expected May MNI Chicago PMI, which rose at its fastest pace in 4.25 years. That was partly offset by improving prospects for a US-Iran peace deal, which is weighing on the dollar. The move appears modest and more indicative of near-term FX positioning than a broad macro shift.

Analysis

The dollar index (DXY00) is up 0.02% as the greenback found support from a stronger-than-expected May MNI Chicago PMI, which rose at its fastest pace in 4.25 years. That was partly offset by improving prospects for a US-Iran peace deal, which is weighing on the dollar. The move appears modest and more indicative of near-term FX positioning than a broad macro shift.

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