Dollar Slides and Gold Rallies to a Record on the Outlook for Fed Rate Cuts

The dollar index (DXY00) on Monday fell by -0.32% and posted a new 1.5-month low.  The dollar is under pressure from last Friday's weak US unemployment report and the increased expectations for Fed easing through year-end.  The dollar is also being undercut by concerns over Fed independence, which could prompt foreign investors to dump dollar assets as President Trump attempts to fire Fed Governor Cook, and by Stephen Miran's intention to be a Fed Governor while still technically holding his White House jo ...