The dollar index (DXY00) on Monday fell by -0.24%. The dollar on Monday retreated from a 5-week high and posted moderate losses as stocks moved higher, curbing liquidity demand for the dollar. The dollar was also under pressure after the U.S. May Empire manufacturing index fell more than expected to a 4-month low. Hawkish comments Monday from Atlanta Fed President Bostic and Minneapolis Fed President Kashkari limited losses in the dollar.
Monday’s U.S. economic news was bearish for the dollar after the May Empire manufacturing survey general business conditions index fell -42.6 to a 4-month low of -31.8, weaker than expectations of -3.9.
