Dollar Back to Where It Began the Year as Rally Burns Out
- Greenback heads toward February 2018 low as U.S. yields slip
- Global recovery bets, dovish Fed are weighing on dollar demand
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It’s back to square one for the dollar.
Friday’s worse-than-expected U.S. employment data saw the Bloomberg Dollar Spot Index drop decisively below its 2021 uptrend, putting it back to little changed for the year. The biggest one-day slide in five months has also put the greenback at risk of a further decline toward the lowest since February 2018.