The dollar index (DXY00) fell to a 1-week low today and is down by -0.48%. The dollar is sliding today on weakness in T-note yields after the 10-year T-note yield dropped to a 3-week low of 5.046%, weakening 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 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.
