Has US dollar’s winning trade just hit its biggest wall in months?

The dollar’s rally is running into resistance as traders scale back some of the more aggressive Federal Reserve rate-hike bets that had powered the greenback higher.

A softer US labour-market signal helped trigger the shift, but the move is now broader than one data point.

The euro and sterling are gaining ground, commodity-linked currencies are recovering, and the yen has finally found relief after sliding to levels that kept Tokyo on intervention watch.

The dollar has not lost its yield advantage, but the market is no longer treating further Fed tightening as a one-way trade.

Majors claw back ground The dollar index slipped 0.2% to 100.77 in Asian trade, leaving it on course for its steepest weekly decline in nearly...

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