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NEW YORK (Reuters) - The U.S. dollar slipped to a two-week low against a basket of currencies on Tuesday, as traders booked profits after a strong March and as a fall in Treasury yields from recent peaks put pressure on the U.S. currency.
FILE PHOTO: A man counts U.S. dollar banknotes at a currency exchange shop in Beirut, Lebanon March 23, 2021. REUTERS/Mohamed Azakir
The U.S. Dollar Currency Index, which measures the greenback against a basket of six currencies, was 0.146% lower at 92.427, its lowest since March 24.
The dollar has risen this year, along with Treasury yields, as investors bet the United States would recover more quickly from the pandemic than other developed nations, amid massive stimulus and aggressive vaccinations. At 2.5%, the gain in March was the dollar’s biggest monthly increase since the end of 2016.
forecasts
Broad Risk Reduction from Funds Failed to Spoil Strong Q1 for CommoditiesThe below summary highlights futures positions and changes made by hedge funds across commodities, forex, bonds and stock indices up until last Tuesday, March 30. A week that saw renewed selling of the tech heavy Nasdaq, as US ten-year yields climbed to the highest since January 2020 and the dollar rose. The Bloomberg Commodity index finished a strong quarter despite five consecutive weeks of net selling from hedge funds.
1 hour ago (Apr 06, 2021 01:09 PM GMT)
Saxo Bank publishes weekly Commitment of Traders reports (COT) covering leveraged fund positions in commodities, bonds and stock index futures. For IMM currency futures and the VIX, we use the broader measure called non-commercial.
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Dollar retreats as profit-taking, falling yields hurt By Saqib Iqbal Ahmed and Saikat Chatterjee
A man counts U.S. dollar banknotes at a currency exchange shop in Beirut
NEW YORK (Reuters) – The U.S. dollar fell to a two-week low against a basket of currencies on Tuesday, as traders booked profits after a strong March and as a fall in Treasury yields from recent peaks put pressure on the U.S. currency.
The U.S. Dollar Currency Index, which measures the greenback against a basket of six currencies, was 0.239% lower at 92.341, its lowest since March 23.
The dollar has risen this year, along with Treasury yields, as investors bet the United States would recover more quickly from the coronavirus pandemic than other developed nations, amid massive stimulus and aggressive vaccinations.
TOKYO, April 5 The dollar was poised to extend gains against major currencies on Monday after the US jobs report at the end of last week showed the nation’s labour market is recovering from the impact of the coronavirus shock. The focus now shifts to data on the US services sector due later.