Dollar reverses gains as bond yields soften

London

The greenback is set for its biggest monthly decline since July 2017 against the euro, as the combination of strong global growth - notably in Europe - and slow inflation encouraged investors to add bearish bets.

But a spike in global bond yields, with 10-year US bond yields pushing well above 2.70 per cent, its highest since April 2014, prompted some investors to cut some short positions and pushed the dollar higher on Monday.