Dollar's Battle Gets Harder With Fed No Longer Only Hawk in Town
- U.S. yields lowest in almost eight months relative to Germany
- Sentiment shift for European, U.K., Canadian central banks
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It’s not so much that the Federal Reserve moved backward, but everyone else jumped forward.
The dollar is trading at the lowest level in nine months, having erased the so-called Trump bump and then some, as currencies including the euro, pound and loonie surge on expectations of tightening monetary policy. That’s helped to push yields on foreign debt higher on a relative basis, making it even tougher on dollar bulls.