Greenback weaker versus most major currencies

Business | 13 Jan 2021 10:06 am

The US dollar nursed losses on Wednesday as a retreat in U.S. yields sapped momentum from its recent rebound and investors cautiously resumed bets that it can resume sliding, Reuters reports.

Benchmark 10-year Treasury yields fell nearly 7 basis points from a 10-month high hit on Tuesday and the turnaround snuffed out a three-day streak for the dollar.

Against the euro, it posted its sharpest daily fall in more than a month and it dropped more than 1 percent against the UK pound, which was also boosted by the Bank of England governor talking down the prospect of negative rates.

The Australian and New Zealand dollars gained from one-week lows, lifting the Aussie above 77 US cents again to sit at US$0.7680 and the kiwi over 72 US cents to trade at US$0.7226.

The dollar fell through 104 Japanese yen to trade at 103.63 yen on Wednesday and the Chinese yuan also held gains to begin the day at a one-week high in offshore trade.

The moves press the dollar back toward multi-year lows, although it clung above those levels in Asia.

The euro steadied at US$1.2208 and dollar index

was steady at 89.991 on Wednesday after falling by 0.5 percent on Tuesday.

The UK pound hit a week-high of US$1.3680.


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