The dollar index (DXY00) on Monday fell by -0.18%. On Monday, the dollar gave up early gains and posted moderate losses as weaker-than-expected U.S. economic news on October new home sales and the Nov Dallas Fed manufacturing outlook weighed on the dollar. Also, lower T-note yields on Monday weakened the dollar’s interest rate differentials and undercut the dollar.
Monday’s U.S. economic news was weaker than expected and bearish for the dollar. Oct new home sales fell -5.6% m/m to 679,000, weaker than expectations of 721,000. Also, the Nov Dallas Fed manufacturing outlook of general business activity unexpectedly fell -0.7 to a 4-month low of -19.9, weaker than expectations of an increase to -16.0.
