Dollar Falls on Fears Over U.S. Outlook -- Market Talk
The dollar falls to a 16-week low on mounting worries about the U.S. economic outlook.
The case for a stronger dollar rests on the U.S. economy continuing to outperform its peers, but economic data are softening and the Trump administration is shooting itself in the foot by slapping tariffs on its closest neighbors, Pepperstone strategist Michael Brown says in a note.
The dollar has gone from being the "best of the bunch to don't touch with a bargepole in the blink of an eye" given the "toxic mix" of huge U.S. government policy uncertainty, the Federal Reserve contending with stubborn inflation and weaker data. The DXY dollar index falls to a low of 105.252.
Source: Bloomberg
