The dollar is falling for the second day in a row

The dollar is falling for the second day in a row
The dollar is falling for the second day in a row

$100 bills. Reuters

NEW YORK/LONDON (Reuters) – The dollar fell for a second straight session on Friday, tracking declines in US Treasury yields, as investors pared their positions after recent big gains, but the decline was seen as temporary.

US 10-year Treasury yields were at 1.484 percent in recent trading, down 4 basis points.

On a weekly basis, the dollar index is heading for its biggest percentage gain since late August, as investors look to the Federal Reserve’s cut in asset purchases in November and the prospects for a rate hike late next year.

In mid-morning trading, the dollar index fell 0.3 percent to 94.047, with an increase of 0.8 percent since the beginning of the week, the largest weekly gain since late August.

Among other currencies, the euro settled at 1.1587 dollars, down about 1.1 percent weekly.

The yen rebounded against the dollar from a 19-month low hit overnight, with the dollar last down 0.3 percent to 110.98 yen.

Commodity-linked currencies rose against the dollar on Friday.

The Australian dollar rose 0.5 percent to $ 0.7266, and fell 3.6 percent in the third quarter of the year, as prices of iron ore, Australia’s largest export, fell sharply.

The pound rose in the latest trading 0.6 percent to $1.3560, just above a nine-month low of $1.3516.

(Prepared by Mahmoud Salama for the Arab Newsletter)

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