The U.S. dollar decreased on Tuesday, as long-term U.S. Treasury yields retreated again, raising worries over potential economic slowdown.
The dollar index, which measures the greenback against six major peers, decreased 0.17 percent at 98.1849 in late trading.
In late New York trading, the euro rose to 1.1096 dollars from 1.1081 dollars in the previous session, and the British pound increased to 1.2165 dollars from 1.2132 U.S. dollars in the previous session. The Australian dollar was up to 0.6775 dollar from 0.6765 dollar.
The U.S. dollar bought 106.27 Japanese yen, lower than 106.62 Japanese yen of the previous session. The U.S. dollar decreased to 0.9782 Swiss franc from 0.9812 Swiss franc, and it was down to 1.3316 Canadian dollars from 1.3329 Canadian dollars.
The long-dated U.S. Treasury notes saw their yields pull back on Tuesday, while the benchmark 3-month Treasury note yields rose to over 1.95 percent, narrowing the gaps between long-term and short-term Treasury yields.
The benchmark 10-year Treasury yields fell to nearly 1.55 percent on late Tuesday afternoon. The yields of 2-year note dropped to nearly 1.51 percent. What's worse, the closely-watched 30-year Treasury yields decreased to a bit over 2 percent.
The 10-year bill yields broke below the 2-year bill yields once at a point last week, which deepened worries that an inverted yield curve would incur an impending economic recession. Enditem