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Barchart
Barchart
Rich Asplund

Dollar Falls on Fears of Hit to US Economy from Tariffs

United States Economy Merz BOJ Euro Uchida ECB US Federal Reserve

The dollar index (DXY00) Wednesday fell by -1.38% and posted a 3-3/4 month low. The dollar was undercut by concern about the negative impact of US tariffs on the US economy.  Also, strength in the euro weighed on the dollar after EUR/USD Wednesday jumped to a 3-3/4 month high.  The dollar added to its losses Wednesday after the US Feb ADP employment change posted its smallest increase in 7 months, a dovish factor for Fed policy. 

The dollar found some underlying support after the US Feb ISM services index expanded more than expected, and the Fed Beige Book said US economic activity since mid-January rose “slightly.”

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