U.S. Dollar Remains at Seven Week Lows

The dollar languished at seven-week lows against a basket of major currencies on Tuesday, having extended a month-long decline after a recent batch of mixed data cast doubts on the strength of the U.S. economic recovery.

San Francisco Fed President John Williams said the U.S. central bank will probably need to keep interest rates near zero for at least another year, even as he expressed optimism the economy is on the recovery path.

The dollar index fell as far as 79.759, a low not seen since May 9, ending a woeful month for dollar bulls that saw it slump from a four-month peak of 81.020. In June, the index fell 0.7 percent.

CNBC

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