Dollar Suffers Worst Month Since April Amid Hawkish Doubts
The US dollar has experienced its worst monthly performance since April due to doubts over Kevin Warsh's hawkish views and the shift from air strikes to diplomacy in the Middle East.
Speculators are unwinding their net long positions in the greenback, which had been at record levels since 2015. The USD index is falling even against a backdrop of high Treasury bond yields.
The simultaneous sell-off of both the currency and Treasuries points to a decline in confidence in the policies pursued by the White House and the Fed.