Dollar Falls to Lowest in Three Months Before Inflation Data
- Bloomberg gauge has lost ground as traders weigh rate outlook
- Yen extends advance, strengthening past 140 per dollar level
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A gauge of the dollar’s strength fell to a three-month low before a US inflation report that may reinforce bets the Federal Reserve is nearing the end of its tightening campaign.
The Bloomberg Dollar Spot Index dropped as much as 0.3% to the weakest since April 14 on Wednesday, pressured as the US currency broke below a key 140 level versus the yen. The greenback is approaching its weakest against the Swiss franc since 2015, while the pound is on the cusp of hitting $1.30 for the first time in over a year.