Forex Markets

The dollar index this morning is down -0.239 (-0.25%) at a 2-week low. EUR/USD is up +0.0058 (+0.50%) at a 2-week high and USD/JPY is up +0.02 (+0.02%). Monday's closes: Dollar Index +0.099 (+0.10%), EUR/USD +0.0002 (+0.02%), USD/JPY +0.09 (+0.08%). The dollar index on Monday closed higher on hawkish comments from Philadelphia Fed President Harker who said he's looking for another Fed rate hike a next month's FOMC meeting. There was also weakness in EUR/USD on dovish comments from ECB Vice President Constancio who said, "an ample degree of monetary stimulus remains necessary in order for underlying inflation pressures to continue to build-up and support headline inflation over the medium-term."