The dollar index (DXY00) on Tuesday fell by -0.10%. The dollar Tuesday fell from a 2-1/2 week high and posted modest losses. The dollar is also under pressure on reports that US reciprocal tariffs scheduled to be imposed on April 2 would be more targeted than widespread tariffs originally threatened, easing inflation concerns that could allow the Fed to keep cutting interest rates. The dollar remained lower on US economic news that showed Mar consumer confidence fell to a 4-year low, and Feb new home sales rose less than expected. Hawkish comments from Fed Governor Kugler limited losses in the dollar when she said she supports holding interest rates steady for "some time."
The US Jan S&P CoreLogic composite-20 home price index rose +4.67% y/y, below expectations of +4.80% y/y but the fastest pace of increase in 5 months.
