Economic news

Dollar moves towards three-week low

The dollar wobbled near a three-week trough versus its counterparts on Friday as U.S. Treasury yields dropped steeply, while the euro extended recovery amid anticipations the European Central Bank to end its stimulus programme.

Photo: Reuters

The dollar index traded at 93.467 after sliding 0.3 percent overnight, when it posted its fourth session of declines. The index has slumped 0.75 percent this week, and breached 93.213 on Thursday, its trough since May 17.

The greenback was firm at 109.710 yen after slipping 0.45 percent overnight.

The euro was stable at $1.1797 after surging to a three-week top of $1.1840 overnight. It was on track for a weekly rise of more than 1 percent, its largest gain for the week since mid-February.

Sterling stayed at $1.3415, having fallen to a trough of $1.3368 in the previous session on concerns over Brexit talks.

The Aussie shed 0.2 percent to $0.7608, extending declines from the previous session when it had slumped from a six-week peak of $0.7677.

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