U.S. Dollar Undermined by Soft Data

The corrective bounce in the U.S. dollar faded again overnight, leaving the currency a shade lower early on Thursday in another hint the recent one-way bullish bet is on ice for now.

Disappointing U.S. economic data on Wednesday, on the heels of last week’s dovish steer from the Federal Reserve, knocked the dollar index lower.

It dipped to 96.875, from a high of 97.381. The index was back near a three-week trough of 96.387 set on Tuesday. Earlier this month, it scaled a 12-year peak of 100.390.


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