NEW YORK, April 23 (Reuters) – The U.S. dollar weakened
against the euro and yen on Wednesday, undermined by a decline
in U.S. equity prices and Treasury yields and finding little
support from a slower-than-expected expansion in the U.S.
“As (U.S.) equities underperform, this leads to buying of
Treasuries and yields fall. The dollar is softer as a result
because it is reflecting other markets rather than internal
components,” said Sebastian Galy, senior currency strategist at
Societe Generale in New York.
NEW YORK (Reuters) – Investors trimmed their positions of U.S. dollars on Tuesday after a two-week run higher, unmoved by a U.S. March existing home sales report that beat expectations but showed a modest decline from the prior month.
Trading ranges remained narrow as Europe returned from the Easter holidays and faced uncertainty over whether European Central Bank policy will move toward more monetary stimulus.