Washington - Saba:
An index measuring the dollar's performance fell on Saturday, marking its fourth weekly loss in the past five, as investors' appetite for other currencies grew amid rising hopes for trade agreements.
The Bloomberg Dollar Spot Index fell 0.8% today, erasing gains from earlier this week.
The Japanese yen and the Australian and New Zealand dollars were among the best performing G10 currencies, all posting gains of more than 1% after China expressed its willingness to enter into tariff talks with the United States.
"Markets appear to be showing some optimism about the statements coming from China," said Arup Chatterjee, managing director of macroeconomic and emerging markets strategy at Wells Fargo in New York. "It's clear that long positions in the dollar against Asian currencies are being eliminated."
US President Donald Trump's trade policies have sent shockwaves through financial markets and weakened the dollar's status as a safe haven, prompting traders to bet against the greenback and shift funds away from US assets after years of favoring them.
An index measuring the dollar's performance fell on Saturday, marking its fourth weekly loss in the past five, as investors' appetite for other currencies grew amid rising hopes for trade agreements.
The Bloomberg Dollar Spot Index fell 0.8% today, erasing gains from earlier this week.
The Japanese yen and the Australian and New Zealand dollars were among the best performing G10 currencies, all posting gains of more than 1% after China expressed its willingness to enter into tariff talks with the United States.
"Markets appear to be showing some optimism about the statements coming from China," said Arup Chatterjee, managing director of macroeconomic and emerging markets strategy at Wells Fargo in New York. "It's clear that long positions in the dollar against Asian currencies are being eliminated."
US President Donald Trump's trade policies have sent shockwaves through financial markets and weakened the dollar's status as a safe haven, prompting traders to bet against the greenback and shift funds away from US assets after years of favoring them.