Dollar Drops to Lowest Since November as Trump Rattles Markets
- Leveraged names unwinding stale USD longs; month-end weighs
- USD halves post-election gain as reflation trade sputters
Tom Barrack: U.S. Dollar Will Continue to Get Stronger
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The greenback fell to a fresh low for the session, extending losses against all of its G-10 peers as the Bloomberg dollar index dropped to its lowest since mid-November, with the drop accelerating as President Trump claimed other countries devalue their currencies.
The decline may have been exacerbated by month-end flows from portfolio rebalancing. The dollar was further undermined by a drop in the Treasury 10-yr yield, which fell to a fresh low for the day near 2.43%.