The dollar index (DXY00) on Tuesday fell by -0.37%. Dovish Fed comments Tuesday from Chicago Fed President Goolsbee and New York Fed President Williams weighed on the dollar. Also, strength in the euro weighed on the dollar Tuesday after a gauge of Eurozone investor confidence rose more than expected.
Fed comments Tuesday were dovish for monetary policy and bearish for the dollar. Chicago Fed President Goolsbee said the Fed should "gather further data and be careful about raising interest rates too aggressively until we see how much work the headwinds from the banking turmoil are doing for us in getting down inflation."
