The dollar tumbled against major currencies yesterday as US economic data were mixed, indicating the growth outlook remained uncertain and tough. Treasuries tumbled with 5-year yields soaring +12 bps, the biggest since December 14, as the auction of 5-year securities attracted the fewest bids since June. USD plummeted to a 7-week against AUD and a 6-week low against JPY earlier in the day before paring losses as ECB announced it failed to sterilize its bond purchases.
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ECB’s Failure to Sterilize Bond Purchase Erases Confidence on Fiat Currencies. Gold Shines
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