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Barchart
Barchart
Rich Asplund

Dollar Falls on Chinese Yuan Strength and Weak US Housing News

United States Chinese Yuan BOJ ECB US Federal Reserve Euro Gold Inflation Interest Rates Japanese Yen

The dollar index (DXY00) is down by -0.31% today. The dollar is weaker today, pressured by a rally in the Chinese yuan to a 4-year high. The dollar added to its losses today after US Sep housing starts unexpectedly fell to a 4-month low and Sep pending home sales fell more than expected.

Dollar losses are limited today as stock weakness has boosted liquidity demand for the dollar. Also, today’s rally in WTI crude oil to a 5-month high has raised inflation expectations and could push the Fed to tighten monetary policy, supporting the dollar.

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