USD Declines and Nears Lowest Level in Four Months

The U.S. Dollar (USD) declined on Monday, beginning the week with a relatively weak performance, following a rebound by the end of the previous week.

An improved investors’ sentiment across global markets on expectations for economic recovery helped riskier assets and currencies rise, which weighed down on the greenback.

The Dollar Index (DXY), which measures the Dollar’s performance against a basket of six major international currencies, has been moving in a range around the 90 mark, but mostly in the negative territory, between 89.76 and 90.10.

The index is down for the day by about 0.21% at 89.83, near its lowest level in four months that was registered on Friday at 89.65.

In addition, the benchmark U.S. 10-year Treasury bond yield declined by 0.029 to 1.603%, from its level at 1.632% on Friday.

High Treasury yields usually provide support for the Dollar.