The dollar index (DXY00) today is down by -0.46% on reduced safe-haven demand for the dollar on hopes that the conflict between Israel and Iran will be contained. The dollar is also under pressure from today's US economic news, which showed an unexpected decline in the June Empire manufacturing general business conditions survey. Losses in the dollar accelerated today on a news report that said Iran wants to cease hostilities and restart talks over its nuclear program. The dollar remains generally weak due to expectations of weaker US economic growth and reduced foreign investment in the US caused by President Trump's tariffs.
The US Jun Empire manufacturing survey of general business conditions unexpectedly fell -6.8 to -16.0, weaker than expectations of an increase to -6.0.
