Yahoo Finance Dollar Trims Losses But Remains Near 3-Year Trough
Investing.com - The U.S. dollar trimmed losses against other major currencies on Friday, but it was still hovering close to a three-year trough amid fears of a potential government shutdown on Saturday and climbing U.S. Treasury yields.
Sentiment on the greenback remained vulnerable as U.S. lawmakers failed to agree on a federal budget deal on Thursday, sparking fears of a government shutdown this weekend.
The dollar was also affected by the fact that the yield on the U.S. 10-year Treasury hit its highest level since 2014.
The dollar has been pressured lower in recen sessions amid concerns the global economic recovery will outpace U.S. growth and prompt other major central banks, including the European Central Bank to begin unwinding loose monetary policy at a faster pace.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 90.25 by 08:10 a.m. ET (12:10 GMT), off a three-year low of 89.96 hit earlier in the session.
The euro remained higher, with EUR/USD up 0.12% at 1.2252, while GBP/USD slipped 0.24% to 1.3863, off session highs of 1.3945.
Sterling turned lower after data on Friday showed that UK retail sales declined much more than expected in December.
The yen was still stronger, with USD/JPY down 0.40% at 110.65, while USD/CHF edged up 0.10% to 0.9599.
Elsewhere, the Australian dollar remained higher, with AUD/USD up 0.09% at 0.8006, while NZD/USD shed 0.29% to 0.7278.
Meanwhile, USD/CAD rose 0.20% to trade at 1.2446.
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