Worse-than-forecast Jobless Claims results and a sharp drop in domestic Factory Orders worsened economic sentiment, sending Treasury bond yields and the dollar lower.
The US dollar set fresh record lows against the euro, as a surprise 50 basis point interest rate cut by the Federal Reserve crushed the greenback while sending the Dow significantly higher in its wake.
The US dollar slowly regained ground against major trading counterparts, as a quiet day of range trading set the stage for tomorrow’s critical Federal Reserve interest rate announcement.
The US dollar continued its pronounced slide, coming within striking distance of all-time lows against the Euro and similar troughs against other major counterparts.
The US dollar fell to fresh 22-year lows, as a dismal Non Farm Payrolls employment report sent the greenback and the Dow tumbling through the afternoon.
The US dollar continued lower as a key ISM Non-Manufacturing report showed that employment fell in the broader Services economy for the first time since 2003.
The US dollar rallied as the Dow Jones Industrial Average started the day with triple-digit losses, but a later rebound in domestic stock markets left the greenback relatively unchanged through the afternoon.
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