The
dollar held losses against most of its 16 major peers from yesterday on
prospects Federal Reserve Chair Janet Yellen will underscore
expectations that the central bank will maintain stimulatory policies.The greenback touched the lowest in almost a week versus the yen, after 10-year Treasury yields fell to the least in six months yesterday, dimming the allure of U.S. assets. Yellen told Congress last week the economy needs support. A report showed Japan��s gross domestic product expanded at the fastest pace in 2 1/2 years, damping bets for additional Bank of Japan easing. The euro remained higher versus the pound before figures that may indicate growth accelerated in the 18-nation region.
The dollar was little changed at 101.88 yen as of 6:55 a.m. in London, after touching 101.66, the lowest level since May 9. It traded at $1.3716 per euro from $1.3715. Europe��s shared currency bought 139.74 yen from 139.75 in New York. It traded at 81.78 pence after climbing 0.4 percent to 81.79 yesterday.
The yield on U.S. government debt due in a decade fell to as low as 2.52 percent yesterday, a level unseen since Oct. 31.
Source : Bloomberg
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