The US dollar index weakened past 100 mark, hitting a fresh 14 month low after US Consumer Confidence unexpectedly plunged in September, falling below expectations to 98.7. US 10-year benchmark rate retreated from September highs, currently trading at 3.75%. Rising expectations of a Federal rate cut after the data is weighing down the greenback. Markets are now looking forward to additional economic data this week for further guidance, including the PCE reports, the Feds preferred inflation gauge. The dollar was also pressured by a risk-on sentiment after China unveiled a comprehensive monetary stimulus package to boost growth. Currently, the index is holding at 99.97, down 0.19% on the day. Read The Rest at :
Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.
