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US Dollar Under Pressure on Reduced Liquidity Demand as Stocks Rally
The dollar index (DXY00) on Tuesday fell by -0.22%. The dollar Tuesday posted moderate losses but remained above last Friday’s 4-3/4 month low. Strength in equity markets Tuesday reduced liquidity demand for the dollar. Also, a decline in T-note yields on Tuesday weighed on the dollar. Losses in the dollar were contained as geopolitical risks boosted safe-haven demand for the dollar after the U.S. launched military strikes in Iraq against terrorist groups accused of a series of drone attacks on American troops. U.S. economic news Tuesday showed strength and was supportive of the dollar. The Nov Chicago Fed national ... (full story)