A gauge of the dollar is set for a fifth week of declines, its longest slump since 2013, as weak U.S. economic data fueled speculation the Federal Reserve will delay raising interest rates.
The greenback is the worst performer this week among 10 developed-nation peers after U.S. data showed producer prices unexpectedly fell while retail sales were little changed in April. The fewest claims for jobless benefits in 15 years signaled the labor market continues to strengthen even as the world’s largest economy struggles to regain momentum.
The Bloomberg Dollar Spot Index, which tracks the greenback versus 10 major trading partners, was little changed at 1,150.89 at 9:08 a.m. in Tokyo. It closed at 1,150.80 on Thursday, the lowest since Jan. 21. It has dropped 4.4 percent in the past five weeks, the longest slump since October 2013.
The greenback was at 119.21 yen from 119.18, set for a 0.5 percent weekly loss. It climbed 0.1 percent to $1.1399 versus the euro, paring its loss since May 8 to 1.8 percent.
The dollar has dropped 1.2 percent this week, the most among 10 developed-market currencies tracked by Bloomberg Correlation-Weighted Indexes.
Source : Bloomberg