Dollar slumps as traders scramble to sell America
The dollar fell to a three-year low yesterday as investors dumped US assets in a 'sell America' trade. US government bonds also came under pressure as the brief respite provided by Donald Trump's 90-day pause on tariffs earlier this week proved short-lived. Francesco Pesole, FX strategist at ING Bank, said: 'A mad week for markets is ending with heavy losses for the dollar. The question of a potential dollar confidence crisis has been answered – we are experiencing one in full force.
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