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Barchart
Barchart
Rich Asplund

Dollar Falls as the US Government Reopens

The dollar index (DXY00) fell to a 2-week low on Thursday and finished down by -0.33%.  The dollar retreated on Thursday amid speculation that the reopening of the US government would allow the release of delayed economic reports that could show a weakening US economy, prompting the Fed to keep cutting interest rates.

The dollar moved lower on Thursday despite hawkish Fed comments.  Boston Fed President Susan Collins, Cleveland Fed President Beth Hammack, and St. Louis Fed President Alberto Musalem all said they favored keeping interest rates steady.   Also, the weakness in stocks on Thursday boosted some liquidity demand for the dollar.

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