Dollar Weakens today, and why

Dollar Weakens today, and why

Summary:

  • The reason the dollar weakened vs the Euro was because after Italy finally formed a government, ending two months of political uncertainty
  • Italy’s new prime minister, drove Italian stocks higher and benchmark borrowing costs to their lowest level since October 2010 at an auction on Monday.
  • Another reason the dollar weakened today was because: The U.S. economy grew more slowly than expected in the first quarter, and with inflation anchored, expectations are fading that the Federal Reserve could cut back its quantitative easing program anytime soon. Which is weighing on the dollar
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Categories: Capital Markets

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