Dollar ended as the worst performing one last week. Selloff somewhat intensified on Friday after poor PMIs indicated that the US economy was already in contraction. Deep fall in benchmark treasury yields dragged down the greenback while traders were betting on a lower terminal rate in Fed's tightening cycle. Canadian Dollar was the second weakest, followed by Sterling. Euro received just very brief lift from the larger than pre-committed rate hike by ECB and ended mixed. Even Swiss Franc was stronger, as Eurozone PMIs also raised recession risks. But Yen jumped towards the end of the week, in particular against Dollar, on falling yields. But Aussie managed to secure to first place. |