Economic news

Dollar retreats as Treasury yields fall

On Thursday the greenback dropped as threat avoidance in the wider markets bumped benchmark U.S. yields to a nine-day bottom.

dollarPhoto: Flickr

The .DXY against its main rivals lost 0.2 percent at 97.081.

The dollar index had moved to a week top of 97.444 the earlier day on optimistic U.S. retail sales and a slid in British pound.

Yet, it slumped as safe harbor Treasury yields dropped after faint U.S. real estate market figures and worries about the extended Sino-U.S. trade issues.

Different financial figures have offered clashing hints concerning the U.S. economic health, yet that does not change the complex representation of the buck confronting descending weight because of the rate of interest shrink by the Fed currently.

The Fed is broadly anticipated to cut the rate of interest by 25 bps at its July 30-31 policy appointment, with some market experts betting on a bigger 50 bps trim.

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    Global experts currently consider the buck more stable than it was before, the main reason is of course weak pound, but I do not believe that dollar recovery will be longstanding.

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