Currencies
Dollar Gives Back Post-Election Gains as Yen and Pound Jump
- Greenback is weaker against major peers as Fed cuts rates
- Dollar gauge falls the most since August on Thursday
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The US dollar fell the most since August Thursday, erasing much of the previous day’s steep gain sparked by Donald Trump winning the US presidential election.
The Bloomberg Dollar Spot Index fell 0.8% amid steep declines for US Treasury yields — a reversal of bigger increases in the previous session. The gauge for the greenback maintained its losses as the Federal Reserve cut interest rates, in line with expectations but not shifting market pricing for further rate reductions.