The dollar index (DXY00) today is down by -0.71%. The dollar is under pressure today as trade worries eased after the US delayed a 25% tariff on goods from Canada late Monday. Also, China’s restrained response to US tariffs eased concerns of a broader trade war. Stabilization of stock prices today also reduced liquidity demand for the dollar.
Losses in the dollar accelerated on today’s weaker-than-expected US JOLTS job openings and factory orders reports. Monday evening’s comments from Chicago Fed President Goolsbee were hawkish for Fed policy and dollar-supportive when he said the Fed should proceed cautiously before cutting interest rates.
