Australian Dollar Futures Market News and Commentary
The dollar index (DXY00) on Tuesday fell by -0.247 (-0.26%). Sep euro-fx futures (E6U0) closed up +0.0022 (+0.18%), and EUR/USD (^EURUSD) rose +.0034 (+0.29%). Sep yen futures (J6U0) closed up +0.19 (+0.20%), and USD/JPY (^USDJPY) fell -0.24 (-0.23%).
The dollar index on Tuesday gave up an early advance and moved lower as U.S. lawmakers continue to wrangle over a virus relief package. Dovish Fed comments on Tuesday also weighed on the dollar. EUR/USD moved higher on dollar weakness and an uptick in Eurozone price pressures. USD/JPY fell back after T-note yields tumbled.
The dollar remains under pressure as U.S. lawmakers are deadlocked in their attempts to reach a compromise on a new pandemic rescue bill. Losses in the dollar accelerated Tuesday on dovish comments from San Francisco Fed President Daly who said "it's clear the virus will be with us longer and more vigorously than anyone had hoped for and the length of support the economy is going to need is going to be... Read more