Morning Bid: Nervous investors put dollar under pressure
Another day of dollar selling, albeit not an intense one, while Treasury yields remain elevated, keeping investors jittery as they watch for possible developments on U.S. trade deals and worry about the fiscal health of the U.S. economy. The safe haven yen and Swiss franc were again the main beneficiaries, as well as the euro, hitting their strongest levels in two weeks even though U.S. Treasury yields were on the rise in Asian hours. Rising Treasury yields usually underpin the dollar, especially against the yen, but that correlation has been weakening over the past month as U.S. President Donald Trump's erratic trade manoeuvres upended global markets and shook investor confidence in U.S. assets.