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Barchart
Barchart
Rich Asplund

Dollar Retreats as Bond Yields Fall and Stocks Rally

ECB Euro de Guindos Nagel United States BOJ

The dollar index (DXY00) Tuesday fell to a 1-week low and finished down by -0.37%.  The dollar was under pressure from strength in the euro after Tuesday’s news showed the Eurozone Apr S&P composite PMI expanded by the most in 11 months. Strength in stocks Tuesday also curbed liquidity demand for the dollar.  The dollar extended its losses after Tuesday’s US Apr manufacturing PMI report unexpectedly contracted.

The US Apr S&P manufacturing PMI unexpectedly fell -2.0 to a 4-month low of 49.9 versus expectations of an increase to 52.0.

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