Dollar Declines as Post-Fed Adjustment Continues for Traders

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The dollar declined as unexpectedly weak economic data has investors adjusting their outlook in the wake of last week’s Federal Reserve meeting.

Orders for durable goods dropped in February, extending the greenback’s losses after it slid the most in more than three years last week as the Federal Open Market Committee cut projections for future rates, inflation and growth. A gauge of expected currency swings has jumped during the past month.

The dollar weakened 0.4 percent to $1.0970 per euro as of 5 p.m. in New York, and dropped 0.2 percent to 119.49 yen. The euro added 0.2 percent to 131.08 yen.

The Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10 major peers, slid less than 0.1 percent to 1,185.46 after tumbling 2.2 percent last week, the biggest weekly decline since October 2011.

Source : Bloomberg