Dollar near record lows

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    SINGAPORE- The dollar teetered near milestone lows on Tuesday, after a triple blow of retreating yields, soft US economic data and a dip in safe-haven demand exerted broad selling pressure.

    Against the euro, Aussie, pound, Swiss franc and yuan it is poised to re-test multi month or multi year troughs made earlier in the month, though moves in morning trade were small as Wednesday’s release of the Federal Reserve minutes looms on the horizon.

    The euro last sat at $1.1874, just below a recent two-year high of $1.1916. The Aussie was steady at $0.7213 and close to an 18-month top of 0.$7242 hit on Aug. 7.

    Investors have been relieved by a delay in the review of the US-China trade deal this week, which has left the agreement standing and reinforced a belief that the trade relationship can hold even amidst conflict on multiple other fronts.

    A fresh rally in tech stocks added to the positive mood, and together with a pullback in US yields and a weak reading in a US manufacturing survey has many traders sticking to their bearish convictions on the dollar.

    Net bearish bets on the US dollar grew to their largest since May 2011 last week and spot trade in recent days suggest the position has only grown further since.