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Benzinga
Benzinga
Business
Piero Cingari

Dollar Snaps 8-Week Winning Streak, Falls To 1-Month Low Versus Yen As Traders Brace For Bank Of Japan Interest Rate Hike

The U.S. dollar is poised to end an eight-week winning streak with its worst weekly drop since mid-August, as resilient European currencies and a surging Japanese yen pull the greenback lower.

A currency-weighted gauge of the dollar, tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:UUP), has declined more than 1.4% this week, signaling a shift in market sentiment against the greenback.

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