The dollar index (DXY00) dropped to a 6-week low today and is down by -0.91%. The dollar is moving lower today on today's US economic news that showed Q2 GDP growing less than expected and the Jun core PCE prices index easing as expected, dovish factors for Fed policy. The dollar is also under pressure on negative carryover from Wednesday when the FOMC kept interest rates unchanged. Losses in the dollar accelerated today after the Japanese yen surged on signs of suspected intervention in the forex market by Japanese authorities to prop up the yen.
US weekly initial unemployment claims rose +9,000 to 197,000, showing a stronger labor market than expectations of 200,000.
