The dollar index (DXY00) on Monday fell by -0.41%. The dollar Monday dropped to a 1-week low and posted moderate losses. The dollar Monday was under pressure from weaker-than-expected U.S. economic news on Mar ISM manufacturing and Feb construction spending. Also, lower T-note yields Monday weakened the dollar’s interest rate differentials.
Monday’s U.S. economic data was bearish for the dollar. The Mar ISM manufacturing index fell -1.4 to 46.3, weaker than expectations of 47.5 and the steepest pace of contraction in 2-3/4 years. Also, Feb construction spending unexpectedly fell -0.1% m/m, weaker than expectations of no change.
