Dollar Extends Losses as Hedge Funds Add to Shorts
The dollar fell versus all of its Group-of-10 peers and long-dated Treasuries dropped in the aftermath of Moody’s decision to cut the US credit rating.
The Bloomberg Dollar Spot Index slips 0.6% as the 30-year US yield rises by 8bps to 5.024%, highest since Nov. 1.
Greenback comes under renewed pressure after the London open, extending modest losses during the Asia session.
EUR/USD rallies by 0.9% to 1.1268, highest since May 9; euro also boosted by comments from ECB President Christine Lagarde who said the recent rise of the euro against the dollar is a consequence of US President Donald Trump’s erratic policies and an opportunity for Europe.
EUR/GBP +0.3% at 0.84276 day high;
USD/JPY falls 0.7% to 144.67, lowest since May 8; USD/CHF slides 0.6% to 0.8328.
Source: Bloomberg