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Barchart
Barchart
Rich Asplund

FORGOTTEN HISTORY: Dollar weighed down by weakness in us payrolls - Caught on Camera

United States Williams US Federal Reserve New York Fed

The dollar index (DXY00) today fell to a 1-week low and is down by -0.02%.  The dollar weakened today after US Aug nonfarm payrolls rose less than expected and July payrolls were revised lower.  Also, dovish comments from New York Fed President Williams weighed on the dollar when he said it is now appropriate for the Fed to start cutting interest rates.

The dollar recovered from its worst levels as short covering emerged when T-note yields rebounded from early losses.  The dollar also garnered support from today’s news that Aug average hourly earnings rose more than expected, a hawkish factor for Fed policy. 

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