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The dollar index (DXY00) this morning is down by -0.28% and fell to a 3-week low. The dollar sank today as T-note yields retreated on the weaker-than-expected US Apr unemployment report and Apr ISM services index. The reports boost the chances of the Fed cutting interest rates this year, a bearish factor for the dollar. Also, today’s stock rally has reduced the liquidity demand for the dollar. The dollar recovered from its worst levels based on hawkish comments from Fed Governor Bowman, who said she was “willing to hike” interest rates if inflation stalled or reversed. US Apr nonfarm payrolls …

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