The dollar index (DXY00) fell to a 1-week low on Thursday and finished down by -0.49%. The dollar slid on Thursday on weaker T-note yields after the 10-year T-note yield fell to a 3-week low of 5.035%, narrowing the dollar’s interest-rate differentials. Also, dovish comments from San Francisco Fed President Mary Daly weighed on the dollar when she signaled she would hold interest rates steady at the October 27-28 FOMC meeting.
The dollar recovered from its worst level Thursday on stronger-than-expected US economic news. Sep PPI final demand and Sep retail sales rose more than expected, and the Oct Empire manufacturing survey of general business conditions rose more than expected to a 4.75-year high.
