Dollar down sharply as yields plunge on growth fears The - TopicsExpress



          

Dollar down sharply as yields plunge on growth fears The dollar was sharply lower on Thursday, its appeal deeply dented after poor U.S. data added to growth concerns that sent equities tumbling and Treasury yields plunging. Already on shaky ground after being buffeted by growth concerns over the past few sessions, a string of downbeat economic data including weak retail sales and manufacturing activity numbers dealt Wall Street a fresh blow overnight, sending the S&P 500 down by as much as 4.4 percent at one point. Safe-haven U.S. Treasuries rallied in response, with the poor data further diminishing prospects for an early rate hike by the Federal Reserve. The benchmark 10-year yield momentarily sliced below the 2 percent threshold to a 17-month trough. read more : forex-tsd/financial-news-analytics/26338-forex-news-687.html#post709069
Posted on: Thu, 16 Oct 2014 04:21:08 +0000

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