The dollar index (DXY00) today fell back from a 2-week high and is down -0.33%. Today’s dovish US economic reports knocked T-note yields lower and are weighing on the dollar. Also, dovish comments Wednesday evening from Atlanta Fed President Bostic undercut the dollar when he said he’s looking for the Fed to begin cutting interest rates in Q4.
US weekly initial unemployment claims rose +3,000 to 219,000, showing a slightly weaker labor market than expectations of 217,000.
