Dollar Slump Amid Surge in Bond Yields and Mixed Global Stocks
The dollar retreated against major currencies as U.S. yields fell and Asian stocks showed mixed results. Despite a fourth weekly dollar rise, the MSCI world equities index dipped by 1.2%. Gold remained strong, while crude oil prices edged higher due to geopolitical tensions in the Middle East.
The dollar faced a downturn on Friday, marking its largest monthly decline against key currencies as U.S. yields decreased from their recent highs, prompting renewed interest in Treasury bonds.
Asian stock markets displayed mixed reactions, with some reflecting Wall Street's overnight gains. The Nikkei dropped 1% following a robust yen recovery and looming political uncertainties in Japan.
Global economic events loom large, including the U.S. payrolls report, presidential election, and Federal Reserve policy decisions, amid bullish tech earnings forecasts from Alphabet, Amazon, and more.
(With inputs from agencies.)
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