Forex
Dollar Weakens on Crude Oil Price Drop and Lower T-Note Yields
The US dollar index DXY fell by -0.20% from its new 1.5-month high, weighed down by declining crude oil prices and lower T-note yields.
WTI crude oil prices dropped more than -2%, easing inflation expectations and putting pressure on the Fed to adopt a dovish policy approach.
The dollar's decline is also attributed to lower T-note yields, which have reduced demand for dollar liquidity. Additionally, the sharp rally in stocks has curbed demand for dollar liquidity.