The dollar index (DXY00) today is down by -0.25%. The dollar is under pressure today as T-note yields fall on dovish comments from Fed Governor Christopher Waller, who said he's open to quarter-point interest rate cuts at the coming FOMC meetings. Also, the strength in stocks today has reduced liquidity demand for the dollar. The dollar added to its losses after the University of Michigan's US Oct consumer sentiment index fell to a 5-month low.
The ongoing shutdown of the US government is bearish for the dollar as the shutdown entered its second week on Monday. The longer the shutdown is maintained, the more likely the US economy will suffer, a negative factor for the dollar.
