The dollar index (DXY00) today is down by -0.13 %. The dollar is under pressure today on the likelihood of a government shutdown on Wednesday. Also, lower T-note yields today have weakened the dollar's interest rate differentials. In addition, comments today from Fed Vice Chair Philip Jefferson hint at the possibility of stagflation and were bearish for the dollar, as he warned that he sees a softening labor market and increasing inflation pressures. Finally, the larger-than-expected decline in the Conference Board US Sep consumer confidence index to a 5-month low weighed on the dollar. Losses in the dollar are limited after the Aug JOLTS job openings rose more than expected, a sign of strength in the labor market and a hawkish factor for Fed policy.
The US Jul S&P composite-20 home price index showed home prices rose +1.82% y/y, above expectations of +1.55% y/y, but still the slowest pace of increase in two years.
