The dollar index (DXY00) experienced a decrease of -0.08% on Friday. The decline in the dollar’s value can be attributed to the disappointing reports on consumer sentiment and inflation expectations from the University of Michigan in September. These reports were worse than anticipated, indicating a more cautious approach by the Federal Reserve (Fed). Additionally, the euro gained strength against the dollar following hawkish comments from the European Central Bank (ECB) on Friday. As a result, the EUR/USD currency pair benefited while the dollar suffered. Furthermore, there was an increase in T-note yields…
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Dollar Declines Due to Weaker U.S. Consumer Sentiment
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