Currencies
Dollar Sees Biggest Weekly Drop in a Year as Trump Trade Stalls
- Yen was leading gains among peers as bets on BOJ hike rise
- Dollar rally due to pause after election euphoria: Jefferies
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The US dollar is heading for the biggest weekly loss in a year, pulling back from the sharp run up fueled by speculation that Donald Trump’s policies will push the currency higher.
Bloomberg’s gauge of the currency slipped 0.4% Friday, extending the week’s decline to 1.3%. The yen was the biggest beneficiary, advancing 3.5% against the greenback this week, as bets grow on the Bank of Japan raising interest-rates next month.