Forex
Dollar Slides Amid Trade Tensions and Bond Sell-Off
The US dollar is near three-month lows after a big weekly slide driven by a largely ineffective intervention move by the U.S. Treasury to halt a bond sell-off.
Rising long-end yields, which tend to strengthen the dollar, are causing concern among policymakers due to their pass-through into borrowing costs.
The Canadian dollar lost ground on Monday amid an escalation in trade frictions between the U.S. and Canada, with Ottawa pledging retaliatory tariffs effective September 8.