The US dollar struggled yesterday, falling to its lowest overall level on a trade weighted basis against other major currencies since October as risk demand reduced. The dollar fell to four-and-a half-year lows against sterling, and the lowest since mid-March against the euro, as Spanish unemployment dell aiding the multi-nation currency. The US dollar had little data of its own to stem these losses. It did have trade balance figures, which came out in line with expectations, consequently failing to have much of an impact on the markets.
Today is another quiet day, with physical data of note hard to come by. There is a speech from US Federal Reserve Chair Janet Yellen to interest investors, as they continue to search for signs of encouragement for possible interest rate moves, as well as for the general outlook for the country and its currency.
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