The dollar index (DXY00) on Tuesday fell by -0.51% and posted a 2-month low. A decline in T-note yields Tuesday undercut the dollar. Losses in the dollar accelerated Tuesday after U.S. economic reports on Feb JOLTS job openings and Feb factory orders were weaker than expected, signaling a slowdown in the economy.
Tuesday’s U.S. economic data was bearish for the dollar. The Feb JOLTS job openings fell -632,000 to a 1-3/4 year low of 9.931 million, showing a weaker labor market than expectations of 10.500 million. Also, Feb factory orders fell -0.7% m/m, weaker than expectations of -0.5% m/m.
