Forex Market Update : Epic Research Singapore

The dollar fell to a five-week low against the yen and slid versus most of its major rivals as investors dumped stocks and jumped into Treasurys, driving down yields, amid worries over the eurozone and weak U.S. economic data.

The greenback dropped to 105.92 Japanese yen USDJPY, +0.22% compared to ¥107.30 Tuesday evening. The euro EURUSD, -0.15%  rebounded 1.4% to trade at $1.2837, the biggest one-day gain since July 2013.

The ICE U.S. Dollar Index DX, +1.22%  , a measure of the greenback’s strength against a basket of six currencies, traded at 84.821, compared to 85.8220 late Tuesday, but off an intraday low of 84.47.

The pound GBPUSD, -0.24%   traded at $1.6002 Wednesday, up from $1.5888 late Tuesday. Investors are now anticipating minutes from last month’s meeting of the Bank of England, set to be released next week.

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