U.S. Dollar to Fall as Central Banks Trim Holdings, Faros Says
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The U.S. dollar will extend declines against the euro and the British pound as Asian central banks follow China in shifting their foreign-exchange reserves away from the greenback, according to Faros Trading LLC.
The dollar has weakened against all 16 major currencies monitored by Bloomberg in the past month, sliding 5.1 percent versus the euro and 4.3 percent against the pound. The Dollar Index, which the ICE futures exchange uses to track the greenback against the currencies of six major U.S. trading partners, is headed for its lowest close since April.