The dollar index (DXY00) today is down by -0.17%. The dollar is moving lower today as dovish comments from Boston Fed President Susan Collins reinforced expectations that the Fed will cut interest rates at the October 28-29 FOMC meeting, when she said it is prudent for the Fed to cut interest rates more this year. Also, the strength in stocks today reduced some liquidity demand for the dollar. The dollar recovered from its worst level today after the US Oct Empire manufacturing survey of general business conditions rose more than expected.
The ongoing shutdown of the US government is bearish for the dollar. The longer the shutdown is maintained, the more likely the US economy will suffer, a negative factor for the dollar.
