Dollar Falls on Prospect of Weak Data After Government Reopens
The dollar falls as traders turn cautious over the prospect of weak data following the reopening of the U.S. government.
The House passed a spending packing to end the record-long government shutdown and President Trump signed it into law Wednesday. This will allow for the resumption of official data, although the timing of releases is unclear.
There could be as many as three jobs reports and two inflation prints ahead of the December Federal Reserve meeting, Danske Bank's Kristoffer Kjaer Lomholt says in a note. Danske expects the dollar to rise, however, in the expectation that U.S. data could be resilient and prompt the Fed to skip a December rate cut.
The DXY dollar index falls 0.2% to 99.323.
Source: Dowjones.com