Dollar drops with US yields despite strengthening US recovery By Reuters – Investing.com UK

SourceInvesting.com
SectorFinancial Markets
CountryMiddle east

© Reuters. FILE PHOTO: U.S. one hundred dollar notes are seen in this picture illustration By Kevin Buckland TOKYO (Reuters) - The dollar sank to an almost two-week low versus a basket of its peers on Tuesday, moving in tandem with retreating Treasury yields from recent peaks despite signs of a robust U.S. economic recovery.

The wallowed at its lowest level since March 25, slipping further in early Asian trading following a 0.4% decline on Monday. The softer turn comes after it hit an almost five-month peak on Wednesday of last week. The yen continued to recover from a more than one-year low near 111 per dollar, briefly strengthening back below 109 on Tuesday. The euro extended its rise from a nearly five-month trough close to $1.17 to trade as high as $1.1821. The Australian dollar, considered a proxy for risk appetite, edged higher to $0.7657 after rallying 0.8% to start the week. The Reserve Bank of Australia will ...read more...