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Barchart
Barchart
Rich Asplund

Dollar Falls on Euro Strength and Dovish Comments from Fed Chair Powell

Powell US Federal Reserve Euro ECB United States Wunsch Gold

The dollar index (DXY00) on Tuesday fell by -0.20% and posted a 1-week low. The dollar retreated Tuesday due to strength in the euro.  The dollar extended its losses Tuesday morning after Fed Chair Powell said he doesn’t see the Fed’s next move as a rate hike. 

US Apr PPI final demand rose +2.2% y/y, which was right on expectations.  The Apr PPI ex-food and energy rose +2.4% y/y, unchanged from March but slightly stronger than expectations of +2.3% y/y.

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