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US Dollar Down Against Havens and Commodity FX Alike as Yields Dip
The dollar slid against most of its major peers Monday as Treasury yields pulled back from last week’s highs even as a report showed the service sector surged last month. The Bloomberg Dollar Spot Index slumped as much as 0.4% to the lowest in two weeks after the Institute for Supply Management services index soared from a nine-month low. Combined with figures last week showing manufacturers expanded by the most in almost four decades and hiring surged in March, the data point to an acceleration of U.S. growth taking hold. Yet Treasuries were relatively subdued in the face of the strong economic reports, with ... (full story)