Dollar Edges Lower Ahead of Heavy Fedspeak Week
Last week’s modest recovery in the dollar is showing signs of exhaustion this morning as investors brace for a week dominated by speeches from Federal Reserve officials. Benchmark ten-year Treasury yields are holding near the 4.1-percent mark and stock market futures are pointing to incremental selling at the open after hitting new record highs in Friday’s session, while the euro and pound advance against the greenback amid a sluggish trading backdrop. On the surface, this week’s macroeconomic calendar looks substantially less dangerous. A raft of purchasing manager indices, out tomorrow, should provide insight into how global economic conditions are evolving...