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Dollar near 3-1/2 week lows; commodity currencies stand tall
The dollar was on the defensive on Thursday, facing headwinds from a dip in U.S. 10-year bond yields, while commodity-linked currencies were bolstered by this week's rally in metal and oil prices. The dollar's index against a basket of six major currencies last stood at 92.980, languishing near Wednesday's trough of 92.956, its weakest level since Dec. 1. "Bond yields have pulled back from their peaks and the dollar is trading with a soft tone," said Satoshi Okagawa, senior global markets analyst at Sumitomo Mitsui Banking Corporation in Singapore, referring to a pullback in U.S. 10-year Treasury yields. The U.S. ... (full story)
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