The dollar, on Monday, March 20, slid for the fourth day running against the basket of currencies used to measure its broader strength.
This came following the reaction to a G20 summit dominated by the Trump administration’s protectionist bent extended last week’s sales.
The greenback has been on the retreat since the U.S. Federal Reserve raised interest rates on Wednesday but stopped short of predicting a sharper acceleration in monetary tightening over the next two years.
The dollar index .DXY fell by as much as 0.3 percent in Asian and early European trading before recovering some ground to stand just 0.1 percent weaker on the day at 100.19.
It was flat at 112.74 yen JPY=EBS and 0.2 percent weaker against the euro at $1.0761. EUR=EBS
For currency markets, the meetings of Group of 20 financial leaders added up to a renewed expression of concern about the United States’ global trade relations and by implication the Trump White House’s concern over the strong dollar.
The post-meeting communique retained language on avoiding currency manipulation which has previously seemed aimed chiefly at Japan and China, but it omitted a call for free trade seen as opening the door to more overt efforts by Washington to shift the balance of its international relationships.
In a note sent to clients late on Friday, analysts from the world’s biggest currency trader upped its prediction for the single currency over the next six to 12 months to $1.04 from $0.98 previously.
The note also said the bank’s base case was a defeat of Marine Le Pen in French elections in May that would remove a premium for political risk from the euro.
