The dollar index (DXY00) is down by -0.20% today. The dollar is falling today as stock strength has reduced demand for liquidity in the dollar. Also, today's weaker-than-expected reports on July ADP employment and July ISM services were bearish for the dollar. Losses in the dollar are limited on hawkish comments from Kansas City Fed President Jeff Schmid, who said tighter Fed policy was needed to reduce inflation.
The US July ADP employment change rose by +44,000, weaker than expectations of +65,000.
Dollar Pressured by Strength in Stocks and Lower Crude Prices
Strength in Stocks and Lower Crude Prices Weigh on the Dollar
Dollar Slides on Stock Strength and Weakness in US Economic Reports

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