The dollar’s fighting its way back after the Federal Reserve sent it reeling last week with cuts to its projections for interest rates, inflation and growth.
The greenback gained the most in a week as Treasury yields rose from six-week lows after jobless claims dropped to the lowest level since mid-February. The yen advanced to the strongest level in more than a month as Saudi Arabia and its allies bombed targets in Yemen, increasing demand for haven assets. The Canadian dollar led gains as the price of crude oil rose on concern supplies could be interrupted.
The Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10 major peers, appreciated 0.3 percent to 1,189.11 as of 4:18 p.m. New York time after sliding as much as 0.6 percent.
The yen gained 0.3 percent to 119.17 per dollar and reached 118.33, the strongest level since Feb. 20. The Canadian dollar gained 0.4 percent to C$1.2473 versus the greenback.
Benchmark U.S. 10-year Treasury yields added seven basis points, or 0.07 percentage point, to 1.99 percent, according to Bloomberg Bond Trader data. They touched 1.85 percent Wednesday, the lowest level since Feb. 6.
Source : Bloomberg