Dollar Down, Dealers Focus on Deficits

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The dollar fell versus the euro and the yen, its recent rebound fizzling as dealers refocused attention on the U.S. external deficits and the ability to finance them.


A day after the Commerce Department said the trade deficit widened in October to a record $55.6 billion, the U.S. Treasury Department said on Wednesday that portfolio inflows into the U.S. in that month totaled $48.1 billion, underscoring the dollar’s structural weakness.


And, international investors bought a net $48.1 billion of Treasury notes, corporate bonds, stocks and other financial assets, down from a revised $67.5 billion in September, Treasury said. Purchases of corporate bonds fell to $19.2 billion from $43.9 billion.


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