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The WSJ Dollar Index fell a further 0.5% on Friday after a 2.2% slide on Thursday, its largest daily loss since March 2009. The weakness followed softer inflation data and bets that the Fed will slow its pace of rate increases.
ING cautioned that markets may be getting ahead of themselves on inflation peaking.
Expectations of slower Fed tightening are weakening the dollar, which tends to support dollar-priced commodities, though the trend could reverse if inflation proves sticky.
wsj.comChelsey DulaneyNov 11, 2022After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
The WSJ Dollar Index extended losses on Nov 11 after a 2.2% slide, reflecting bets on slower Fed hikes.
