Dollar extends drop as positioning and technical selling weigh

Published by
Reuters UK

By Saqib Iqbal Ahmed NEW YORK (Reuters) – The dollar extended its fall against a basket of currencies on Thursday to a two-month low, a day after data that showed an expected surge in U.S. consumer prices in December fell short of offering any new impetus for the Federal Reserve’s policy normalization efforts. The U.S. Dollar Currency Index, which tracks the greenback against six major currencies, was down 0.1% at 94.866, its lowest since Nov. 10. The index, which rose 6.3% in 2021, is down about 1% for the week, on pace for its worst weekly performance in about eight months. “Coming into the …

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