The dollar struggled to shake off a harsh overnight session, slipping to a five-...
TOKYO - The dollar struggled to shake off a harsh overnight session, slipping to a five-month low against the yen on Tuesday, hurt by a sharp slide in U.S. Treasury yields thanks to rising bets for a near-term rate cut by the Federal Reserve.
Treasury yields had already been on a steep decline as investors have been piling into safe-haven government bonds in the face of escalating trade tensions between Washington and its trade partners.The dollar index against a basket of six major currencies was steady at 97.153 after shedding 0.6% the previous day.
The euro nudged up 0.1% to $1.1251 after rallying roughly 0.7% overnight to $1.1262, its highest since May 13.
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