Dollar Hits Lowest Level in a Month After Decline in US Bond Yields
The US dollar fell to its lowest level in a month today, following a decline in US Treasury bond yields. However, it regained some ground as the euro weakened due to weak economic data.
The US Dollar Index, which measures the performance of the US currency against a basket of six currencies, rose 0.04 percent to 105.63. The index had previously dropped to 105.35 earlier in the session, the lowest level since September 22.
In turn, the euro lost some of its gains and fell by 0.12 percent to $1.0656 in the latest trading, after briefly rising to around $1.0684.
The dollar also declined against the yen in the latest trading, falling by 0.17 percent to 149.45 yen, as both currencies were affected by changes in US bond yields.
The British pound rose by less than 0.1 percent to $1.2258 in the latest trading.
US Treasury bond yields had risen yesterday, reaching over five percent for ten years for the first time since July 2007, but they later experienced a sharp decline.