The dollar index (DXY00) today is down by -0.09%. Today's yen strength is undercutting the dollar after the yen whipsawed from a 1-week low up to a 2-week high on speculation that the Japanese government was intervening in the forex market to support the yen. Also, today's stronger-than-expected economic news on UK manufacturing activity and retail sales lifted GBP/USD to a 2.5-week high, underscoring the dollar's weakness. Losses in the dollar are limited after the University of Michigan US Jan consumer sentiment index was revised upward to a 5-month high.
The US Jan S&P manufacturing PMI rose +0.1 to 51.9, slightly weaker than expectations of 52.0.
