Euro Heads for Record 12-Week Slide Against Surging Dollar
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The euro is heading for a record 12th consecutive week of declines against the U.S. dollar, its longest losing streak since being launched in 1999.
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The euro's weakness is largely dollar-driven, with the dollar index heading for a 12th straight week of gains, last seen in 2014.
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The dollar has been supported by a sell-off in U.S. bonds that sent yields to multi-year highs, driven by asset managers closing long bond positions.
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U.S. non-farm payrolls data today could reignite dollar buying if the numbers are strong.
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Other currencies like the yen and Swiss franc have seen some recovery this week with the pause in the bond sell-off.