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Barchart
Barchart
Rich Asplund

Dollar Tumbles on Hawkish ECB

ECB US Federal Reserve Interest Rates LAGARDE United States

The dollar index (DXY00) on Thursday fell by -0.80% and posted a 1-month low. Central bank divergence weighed on the dollar Thursday after the ECB raised interest rates by +25 bp and signaled another rate hike in July, whereas the Fed on Wednesday paused its rate hikes. Lower T-note yields and stronger stocks Thursday also undercut the dollar. 

U.S. weekly initial unemployment claims were unchanged at 262,000, showing a weaker labor market than expectations of a decline to 245,000.

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