The dollar index (DXY00) Wednesday fell by -0.48%. The dollar retreated Wednesday after the US July trade deficit widened by the most in 2 years. Lower T-note yields Wednesday also weighed on the dollar. Losses in the dollar accelerated after the US July JOLTS job openings fell more than expected to a 3-1/2 year low, a dovish factor for Fed policy. The dollar maintained moderate losses after the dovish Fed Beige Book was released.
The US July trade deficit widened to -$78.8 billion from -$73.0 billion in June, the largest deficit in 2 years and a negative factor for Q3 GDP.
