The dollar sagged on Tuesday after weak U.S. economic data while commodity-linke...
TOKYO - The dollar sagged on Tuesday after weak U.S. economic data while commodity-linked currencies such as the Canadian and Australian dollars drew support from an ongoing surge in crude oil prices.
In addition to pressure from buoyant commodity-linked currencies, the dollar was weighed by data showing U.S. durable goods orders declined in February and as the euro bounced as investors squared positions ahead of an upcoming European Central Bank meeting. The 10-year Treasury yield bounced overnight to 2.518 percent, edging further away from a 15-month low of 2.34 percent plumbed at the end of March. The yield was still significantly below its recent highs around 2.8 percent hit in early March.
The pound was unchanged at $1.3062, having traded in a narrow range so far this week, reflecting nervousness in the market about key Brexit talks between Prime Minister Theresa May and the opposition Labour Party.
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