Dollar deepens losses as US bond yields fall

The US dollar fell against most of its peers on Monday, following the US Treasury yields drop.

The Federal Reserve decided last week to keep the interest rate near zero and forecast 2 interest rate hikes in 2023, and raised its forecast for US GDP growth this year to 7% from 6.5% in March.

Several Fed members said they expect to start raising interest rates from by the end of 2022.

The US Treasury yield for 2023 fell below 2% today for the first time since last February, and the the 10-year bond hit a 4-month low.

The dollar index fell against a basket of major currencies by 0.4% to 91.8 points as of 18:14 GMT, after hitting a high of 92.3 points and a low of 91.9 points.