Dollar Falls and Gold Pushes to a New Record High on Fed Easing Prospects

The dollar index (DXY00) today is down by -0.42% at a 2.25-month low. The dollar remains under pressure today on expectations for the Fed to cut interest rates by -25 bp at Wednesday’s conclusion of the 2-day FOMC meeting.  Also, increased expectations for Fed easing through year-end are bearish for the dollar.  Losses in the dollar were contained after US retail sales rose more than expected and US manufacturing production unexpectedly increased. The dollar is also being undercut by concerns over Fed ind ...