The US dollar is close to a new low for the year.

The US dollar is approaching a new low for the year as weak economic data and dovish comments from Federal Reserve officials suggest that the central bank may be about to slow its rate hike pace.

Bloomberg Dollar Index falls 0.3% on the spot.

On Monday, the Bloomberg dollar spot index fell 0.3%, approaching its lowest level since April of last year, while the euro rose 0.4%.

According to the most recent Commodity Futures Trading Commission data, institutional investors, including pension funds, insurance companies, and mutual funds, have increased their net short dollar positions to their highest level since June 2021.

“Softer US data weighs on the dollar as the US loses its upside advantage,” said Ray Attrill, National Australia Bank Ltd.’s head of currency strategy.

Следите за нами и ставьте лайки: