Dollar weakens as foreign investment slows

MARKET NEWS

The US dollar found itself the subject of a sell-off last week, and there may be more to come, says Michael Woolfolk, head of North American research at Bank of New York in New York

The US dollar began last week trading in lacklustre fashion as market players seemed content to see the currency range-trade ahead of Friday’s US first-quarter GDP report.

However, Wednesday’s 0.6% drop in March durable goods orders sparked renewed concerns over the durability of the US economic recovery leading t