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Rich Asplund

Dollar Slips as Stocks Recover

United States Beth Hammack ECB Iran Gold BOJ PBOC US Federal Reserve

The dollar index (DXY00) today is down by -0.13%. The dollar is under pressure today as stocks rallied on a New York Times report that Iranian operatives made an offer to discuss terms for ending the war. The dollar recovered from its worst level today after the Feb ADP employment report showed US employers added more jobs than expected last month, and the Feb ISM services index unexpectedly expanded by the most in 3.5 years, hawkish factors for Fed policy.

The US Feb ADP employment change increased by +63,000, stronger than expectations of +50,000.

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