The dollar index (DXY00) today is down by -0.44%. The dollar extended this week’s slide to a 4-month low. The dollar is under pressure because of the negative impact of US tariffs on the US economy. Also, the strength of the euro weighed on the dollar after EUR/USD today jumped to a 4-month high after the ECB said interest rates are less restrictive. In addition, the yen rallied to a 5-month high against the dollar today as Japan’s largest union demanded higher wages. The dollar added to its losses today after the US Jan trade deficit widened to a record.
US weekly initial unemployment claims fell -21,000 to 221,000, showing a stronger labor market than expectations of 233,000.
