The dollar index (DXY00) today is down by -0.41% at a 2-week low on pressure from lower T-note yields. Also, the strength in stocks today has reduced liquidity demand for the dollar. Losses in the dollar accelerated after today’s news that the US ISM manufacturing index and Apr construction spending unexpectedly declined.
The US May ISM manufacturing index unexpectedly fell -0.5 to 48.7, weaker than expectations of an increase to 49.5. The May ISM price paid sub-index fell -3.9 to 57.0, weaker than expectations of 59.0.
