The U.S. dollar hit three-week lows against a currency basket on Tuesday as growing expectations for an interest rate cut by the Federal Reserve pressured Treasury yields, while persistent concerns over the global growth outlook boosted the safe haven yen.
The benchmark 10-year Treasury's yield fell to its lowest since September 2017 overnight, near 2%, after St. Louis Federal Reserve President James Bullard said a rate cut "may be warranted soon" given weak U.S. inflation and the threat to economic growth posed by global trade tensions.
The firm yen weighed on the dollar index, which was at 97.067 after hitting a three-week trough of 96.917 overnight.
The euro rose 0.2% to 1.1261, helped by dollar weakness.
Source : Investing.com