Dollar sinks to 6-week low to yen on bets for less aggressive Fed

Published by
Reuters UK

By Kevin Buckland TOKYO (Reuters) – The dollar sank to a fresh six-week low to the yen on Monday as markets continued to wager that the Federal Reserve has less tightening to do with the U.S. economy at risk of recession. The dollar dipped as low as 132.07 yen for the first time since June 16, and was last 0.45% lower at 132.605. The currency pair is extremely sensitive to changes in U.S. long-term Treasury yields, with the benchmark 10-year hovering around 2.67% after sliding to the lowest since early April at 2.618% at the end of last week. The dollar index – which measures the currency agai…

Read More