Currencies
Dollar on Pace for Biggest Decline in Two Months
- Traders exit long dollar wagers with Fed hike seen less likely
- Focus turns to Friday data to gauge next leg in dollar move
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The dollar is on pace for its biggest drop in almost two months as Treasury yields extended a slump and traders pared bets on further Federal Reserve interest-rate hikes.
The Bloomberg Dollar Spot Index was down 0.5% at around midday Thursday in New York, on track for its steepest decline since Sept. 11. The greenback sank against nearly all of its Group-of-10 peers, with the New Zealand dollar leading gains.