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Barchart
Rich Asplund

Dollar Retreats on Soft US ISM Manufacturing Report

United States ECB Kashkari Minneapolis Fed the Federal Reserve

The dollar index (DXY00) Monday fell by -0.52% and posted a 2-week low.  Lower T-note yields on Monday undercut the dollar. Losses in the dollar accelerated after Monday’s news that the US ISM manufacturing index and Apr construction spending unexpectedly declined.

The US May ISM manufacturing index unexpectedly fell -0.5 to 48.7, weaker than expectations of an increase to 49.5.  The May ISM price paid sub-index fell -3.9 to 57.0, weaker than expectations of 59.0.

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