SYDNEY : A bruised dollar took respite on Monday after suffering its worst weekly drop of the year, as traders waited on economic data and policy decisions before selling it down any further.Chinese growth data and loan-rate settings are due later in the session, ahead of U.S. retail sales and British inf
SYDNEY : A bruised dollar took respite on Monday after suffering its worst weekly drop of the year, as traders waited on economic data and policy decisions before selling it down any further.
The dollar's slide began with yen buying, as investors unwound yen-funded positions in emerging markets, but extended sharply after softer-than-expected U.S. inflation data leant support to wagers that U.S. interest rates will soon peak. "The question then is whether the dollar sell-off has gone too far and we are at risk of mean reversion early this week."
The Antipodeans could face pressure if Chinese data disappoints. Elsewhere the dollar moves have been so large that a short-term breather may be in order.
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