The dollar index (DXY00) today is down by -0.51%. The dollar is moderately lower today because of concerns that the US-China trade war will drag on after China said there were no talks on reaching a trade deal with the US. Also, Treasury Secretary Bessent said President Trump hasn’t offered to take down US tariffs on China on a unilateral basis. The dollar added to its losses on dovish comments from Cleveland Fed President Hammack, who said the Fed could interest rates in June if the data is clear. Today’s US economic news is mixed for the dollar.
US weekly initial unemployment claims rose +6,000 to 222,000, right on expectations. Weekly continuing claims fell -37,000 to a 10-week low of 1.841 million, showing a stronger labor market than expectations of 1.869 million.
