The dollar starts May well down on where we were at the start of April against the euro overall – despite a small boost today – but standing relatively still against the pound.
Overall, the dollar has suffered its worst stretch of losses since last summer, with four weeks of losses against a basket of currencies.
The essential reason is optimism about global growth prospects.
Data yesterday was disappointing, with manufacturing PMI well down on expectations. This afternoon we will see Balance of Trade for March.
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