Dollar Falls as the US Government Reopens

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cutting interest rates.The dollar moved lower on Thursday despite hawkish Fed comments.  Boston Fed President Susan Collins, Cleveland Fed President Beth Hammack, and St. Louis Fed President Alberto Musalem all said they favored keeping interest rates steady.   Also, the weakness in stocks on Thursday boosted some liquidity demand for the dollar.What Did Wednesday's Late Rally in Some Metals and Grains Tell Us?Dollar Slightly Higher as US Government Shutdown End NearsDollar Supported by Yen WeaknessTired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now!St. Louis Fed President Alberto Musalem cautioned against further Fed rate cuts, saying, "I think there's limited room for further easing without monetary policy becoming overly accommodative."Cleveland Fed President Beth Hammack said she doesn't support any further interest rate cuts unless the economy changes, as "we've got this persistent high inflation that is sticking around."Wednesday evening, Boston Fed President Susan Collins said, "It will likely be appropriate to keep policy rates at the current level for some time to balance the inflation and employment risks in this highly uncertain environment."The markets are discounting a 51% chance that the FOMC will cut the fed funds target range by 25 bp at the next FOMC meeting on December 9-10.EUR/USD (^EURUSD) rose to a 2-week high on Thursday and finished up by +0.37%.  The weaker dollar on Thursday was bullish for the euro.  Central bank divergence is also supportive of the euro, with the ECB seen as largely finished with its rate-cut cycle, while the Fed is expected to cut rates several more times by the end of 2026.On the negative side for the euro was the report on Eurozone Sep industrial production, which rose +0.2% m/m, weaker than expectations of +0.7% m/m.Swaps are pricing in a 3% chance of a -25 bp rate cut by the ECB at the December 18 policy meeting.USD/JPY (^USDJPY) on Thursday fell by -0.19%.  The yen moved higher on Thursday, recovering slightly from Wednesday's 9.25-month low against the dollar.  Thursday's stronger-than-expected Japanese producer price report was hawkish for BOJ policy and was supportive of the yen.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,734.11 -3.38 (-0.05%)Dow 3047,147.48 -309.74 (-0.65%)Nasdaq22,900.59 +30.23 (+0.13%)Russell 20002,388.23 +5.24 (+0.22%)VIX19.83 -0.17 (-0.85%)Gold4,084.40 -110.10 (-2.62%)PortfolioSign in to access your portfolioSign inTop gainersCDTX Cidara Therapeutics, Inc. 217.71 +111.72 (+105.41%)SRRK Scholar Rock Holding Corporation 37.41 +7.34 (+24.41%)AVDL Avadel Pharmaceuticals plc 23.56 +4.32 (+22.45%)LGN Legence Corp. 40.27 +6.95 (+20.86%)CSIQ Canadian Solar Inc. 33.58 +4.96 (+17.33%)Top losersDGNX Diginex Limited 10.53 -2.97 (-22.00%)STUB StubHub Holdings, Inc. 14.87 -3.95 (-20.99%)HTFL Heartflow, Inc. 27.98 -2.96 (-9.57%)EOSE Eos Energy Enterprises, Inc. 13.80 -1.40 (-9.24%)CLSK CleanSpark, Inc. 10.96 -1.02 (-8.51%)Most activeONDS Ondas Holdings Inc. 7.18 +0.62 (+9.45%)OPEN Opendoor Technologies Inc. 8.12 -0.44 (-5.14%)NVDA NVIDIA Corporation 190.17 +3.31 (+1.77%)TSLA Tesla, Inc. 404.35 +2.36 (+0.59%)PFE Pfizer Inc. 25.06 -0.73 (-2.83%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersBTC-USD Bitcoin USD 95,742.75 -3,910.96 (-3.92%)GOOG Alphabet Inc. 276.98 -2.14 (-0.77%)GOOGL Alphabet Inc. 276.41 -2.16 (-0.78%)QUBT Quantum Computing Inc. 10.60 +0.57 (+5.68%)ETH-USD Ethereum USD 3,172.97 -65.16 (-2.01%)Top economic events