The dollar's nine-week winning streak, its longest since 2014, saw hedge funds reduce net short positions by nearly $5 billion last week, per CFTC data.
US job market finally shows enough cracks to embolden some of the world’s largest bond investors to bet the tightening cycle will end sooner than later.
German wages rose at a record annual pace of 6.6% in the second quarter, fuelling concerns that euro zone inflation will stay high due to rising labour costs.