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Barchart
Barchart
Rich Asplund

Dollar Retreats on Growth Risk From US Tariffs

United States Merz BOJ Euro Uchida ECB Economy US Federal Reserve

The dollar index (DXY00) today is down by -1.13% and tumbled to a 3-3/4 month low.  Concern about the negative impact of US tariffs on the US economy is undercutting the dollar.  Also, strength in the euro weighed on the dollar after EUR/USD today jumped to a 3-3/4 month high.  The dollar added to its losses today after the US Feb ADP employment change posted its smallest increase in 7 months, a dovish factor for Fed policy.  The dollar recovered from its worst level after the US Feb ISM services index expanded more than expected.

The US Feb ADP employment change rose +77,000, well below expectations of +140,000 and the smallest increase in 7 months.

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