Economic news

Dollar retreats from three-month peak following bonds

The dollar was firm versus a basket of its major peers on Monday after sliding from a 3-1/2-month peak touched last week, dragged down by a slide in the benchmark U.S. 10-year Treasury yield.

Photo: Reuters

The dollar’s index traded at 91.561 .DXY, pulling back from Friday’s peak of 91.986, its highest level since Jan. 11.

The greenback edged up 0.1 percent to 109.12 yen, having touched a 2-1/2 month top of 109.54 yen in the previous session.

The euro was stable at $1.2125, having risen from a 3-1/2-month trough of $1.2055 hit on Friday.

The pound lost 0.1 percent to $1.3780.

On Friday, the sterling had scaled a near two-month trough of $1.3748 amid sharp slowdown in the UK’s economy, that boosted doubts over the Bank of England's interest rate hike in May.

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