The dollar index (DXY00) on Thursday fell by -0.60%. The dollar on Thursday slid from a 1-week high and retreated on Thursday's Fed-friendly US economic news that showed the Q1 core PCE price index revised lower, continuing unemployment claims unexpectedly rose to a 3-1/2 year high, and Apr pending home sales posted their biggest decline in more than 2-1/2 years, dovish factors for Fed policy. Strength in stocks today has also curbed liquidity demand for the dollar. Losses in the dollar accelerated on dovish comments from Chicago Fed President Goolsbee, who said the Fed could begin to cut interest rates if there is a resolution in US trade policy.
The dollar on Thursday initially moved higher after a US trade court late Wednesday ruled that some of President Trump's tariffs were illegal. The dollar also garnered support from Thursday's US economic news that showed Q1 GDP revised upward.
