Dollar Drops Before Fed, Euro Buoyed by Italy Bonds
Wednesday, 19 December 2018 17:49 WIB | CURRENCIES |DOLLARDolar AS

The dollar was broadly weaker as benchmark Treasury yields held close to the lowest level since May before the Federal Reserve policy decision. The euro rose above $1.14 as Italy was said to have reached a technical agreement with European Union officials over its budget.

The Bloomberg Dollar Spot Index drops a third day, heading for its longest losing streak in more than a month, as traders speculate the Fed may be on the verge of signaling a pause in its tightening cycle.

The greenback retreats versus most of its Group-of-10 peers and the 10-year Treasury yield briefly drops below 2.80% for the first time since May.

EUR/USD rises 0.4% to 1.1406 high, tests pivotal resistance by 55-DMA and bearish trendline since October.

USD/JPY falls 0.3% to 112.19 low before paring losses.

Source: Bloomberg

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