Dollar Declines and Gold Soars on Expectations of Fed Rate Cuts

The dollar index (DXY00) on Wednesday fell by -0.28%.  The dollar moved lower on Wednesday after dovish comments from Boston Fed President Susan Collins reinforced expectations that the Fed will cut interest rates at the October 28-29 FOMC meeting, when she stated that it is prudent for the Fed to cut interest rates further this year. Also, the strength in stocks on Wednesday reduced some liquidity demand for the dollar.  The dollar recovered from its worst level today after the US Oct Empire manufacturing ...