The dollar index (DXY00) on Wednesday fell by -0.18%. The dollar gave up an early advance Wednesday and fell to a 2-week low. Improved prospects for an EU trade agreement with the US boosted the euro and undercut the dollar. The dollar also fell after US existing home sales fell more than expected to a 9-month low.
The dollar initially moved higher on Wednesday on reduced global trade tensions following the US’s agreement to a trade deal with Japan. Also, stronger T-note yields on Wednesday improved the dollar’s interest rate differentials.
