The dollar index (DXY00) Monday fell by -0.03%. The dollar fell slightly Monday as strength in the yen sparked long liquidation in the dollar. US Sep consumer credit was weaker than expected and bearish for the dollar. Losses in the dollar were limited Monday by higher T-note yields and weakness in stocks, which boosted liquidity demand for the dollar. The dollar also has carryover support from last Friday’s stronger-than-expected US payroll report that eliminated the odds of a 50 bp Fed rate cut at next month’s FOMC meeting.
US Sep consumer credit rose +$8.929 billion, weaker than expectations of $12.0 billion.
