The dollar index (DXY00) this morning is down -0.14% at a 1-week low. The dollar today is mildly lower, weighed down by the strength of the euro. The dollar extended its losses after Fed Chair Powell said he doesn’t see the Fed’s next move as a rate hike.
US Apr PPI final demand rose +2.2% y/y, which was right on expectations. The Apr PPI ex-food and energy rose +2.4% y/y, unchanged from March but slightly stronger than expectations of +2.3% y/y.
