Dollar extends 3-week losing streak

London

THE dollar drifted lower against a trade-weighted basket of its rivals on Monday, extending a three-week losing streak, though investors were wary of driving the currency lower before a couple of event risks this week.

On Tuesday, the US Senate Banking Committee holds a hearing to confirm the nomination of Jerome Powell to succeed Janet Yellen at the helm of the Federal Reserve while the US Senate resumes deliberations on the tax plan this week after the Thanksgiving break.