Dollar edges lower as risk appetite returns

Dollar edges lower as risk appetite returns
07/09/2021 | 03:56pm EDT
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NEW YORK (Reuters) -The dollar edged lower on Friday, along with the Japanese yen, as riskier currencies were favored, with the rally in U.S. Treasuries running out of steam and global stock markets steadying.
Some recent soft U.S. data, along with a surge in COVID-19 cases in many parts of the world, has fueled concerns that the global economic recovery was running out of steam, leading to an eight-day streak of declines for the 10-year Treasury yield that ended on Friday.
"This week was all about the bond market and the collapse in treasury yields," said Edward Moya, senior market analyst for the Americas at OANDA. "Some of that move was probably overdone."

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