U.S. dollar loses as Treasury yields retreat

Washington [US], October 24: The U.S. dollar lost in late trading on Monday, as the U.S. Treasury yields declined.The dollar index, which measures the greenback against six major peers, fell 0.59 percent at 105.5372 in late trading.The yield on 10-year U.S. Treasury bond reached 5.021 percent, before it later retreated. Falling U.S. Treasury yields left markets betting on lower odds of a hike by the Federal Reserve and had the U.S. dollar losing interest.Moves in the foreign exchange market were largely muted on Monday as traders awaited several events this week, including a European Central Bank meeting, the release of U.S. GDP data and the Fed's preferred inflation gauge. Fed members are now in a blackout period ahead of the Federal Open Market Committee meeting starting Oct. 31.In late New York trading, the euro rose to 1.0674 U.S. dollars from 1.0592 U.S. dollars in the previous session, and the British pound was up to 1.2255 U.S. dollars from 1.2158 U.S. dollars.The 10-year Japanese Government Bond is near 0.86 percent, the highest since 2013. The Nikkei news service reported that the Bank of Japan is considering tweaking its yield curve control program. The U.S. dollar bought 149.5640 Japanese yen, lower than 149.8590 Japanese yen of the previous session.The U.S. dollar was down to 1.3682 Canadian dollars from 1.3701 Canadian dollars, and it decreased to 0.8910 Swiss francs from 0.8918 Swiss francs. The U.S. dollar fell to 10.9599 Swedish krona from 10.9724 Swedish krona.Source: Xinhua