FX Week

Greenback loses shine as bears close in

MARKET NEWS

NEW YORK – Bearish sentiment on the US dollar continued to gather pace last week, as the major European currencies set five-month highs against the greenback.

The euro rose above $0.92, while the pound strengthened to $1.449 against the US currency, in markets that dealers described as thin and lacking liquidity.

"There are plenty of dollar-negative factors in the market," Ian Gunner, foreign exchange strategist at ABN Amro in London, told FX Week. "We saw sentiment in short-term accounts s