Dollar Plunge as U.S Treasury yields slipped
The Dollar dips as its recent rally, driven by a spike in the U.S. Treasury yields, and speculators are taking cautions on the dollar because of the consistent downfall of U.S currency.
The U.S. Dollar Index inched down 0.8% to 89.940 against a basket of currencies.
Recorded Ten-year treasury yields declined almost around 7 basis points from a 10 month high seen on Tuesday consequently dollars pushed again to multi-year lows. However, the greenback holds tights to those levels earlier in the session as most of the traders believe that U.S. trade and spending import/export will take the dollar lower.
The USD/JPY slightly down 0.15% to 103.59
The AUD/USD inched down 0.08% to 0.7765
The NZD/USD pair slightly up 0.19% to 0.7229
The USD/CNY pair comes down 0.09% to 6.4549
The GBP/USD pair edged up 0.13% to 1.3681. Bank of England Governor Andrew Bailey showed concern on negative interest rates to accelerate development. Said in his online discourse to the Scottish chambers of commerce on Tuesday, therefore, the dollar fell more than 1% against the pound.