Dollar Decline Intensifies, Yen Holding Pole Position

Dollar's selloff gained momentum in today's Asian trading session, breaking through near-term support levels against Euro and Sterling. The market remains skeptical about the possibility of Fed implementing two or more rate hikes this year. With US CPI release scheduled for tomorrow, traders appear to be positioning themselves for potential downside surprises. Meanwhile, major US stock indexes closed slightly higher overnight, and benchmark 10-year yield slipped below 4% mark during Asian session.

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