FOREX-Dollar drops with U.S. yields despite strengthening U.S. recovery – Investing.com India

SourceInvesting.com
SectorFinancial Markets
CountryMiddle east

* Greenback retreats with 10-year Treasury yield below 1.7%* Strong U.S. data lifts Wall Street stocks to record highs* above $59,000 as crypto market cap tops $2 trillion* Graphic: World FX rates https://tmsnrt.rs/2RBWI5EBy Kevin BucklandTOKYO, April 6 (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 =USD 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 announce a policy decision later on Tuesday, with no change expected.The greenback has risen strongly this year, along with ...read more...