The dollar index (DXY00) today is down by -0.79%. The dollar fell to a 3-1/4 year low today as comments from President Trump sparked trade uncertainty and weighed on the dollar. Late Wednesday, Mr. Trump said he intends to send letters to dozens of US trading partners in the next one to two weeks setting unilateral tariffs, ahead of the July 9 deadline that came with his 90-day pause. Losses in the dollar accelerated on today's weaker-than-expected US jobless claim and PPI reports, which bolstered expectations for Fed rate cuts later this year.
US weekly initial unemployment claims were unchanged at an 8-month high of 248,000, showing a weaker labor market than expectations of a decline to 242,000. Weekly continuing claims rose +54,000 to a 3-1/2 year high of 1.956 million, showing a weaker labor market than expectations of 1.910 million.
