Dollar Tumbles as Fed Boosts Liquidity

The dollar index (DXY00) tumbled to a 1.75-month low today and is down by -0.55%.  The dollar is under pressure today on negative carryover from Wednesday after the FOMC cut the federal funds target range by -25 bp and said it would boost liquidity in the financial system and begin purchasing $40 billion a month in T-bills. The dollar added to its losses today after US weekly jobless claims rose more than expected to a 3-month high, a sign of labor market weakness that is dovish for Fed policy.  A suppor ...