The U.S.Dollar is In Trouble: DBS

        0423 GMT [Dow Jones] In the wake of the U.S. jobs reporter Friday, DBS believes that Fed Chairwoman Janet Yellen, in her upcoming testimony before the U.S. Joint Economic Committee at 1400 GMT on Wednesday, will likely reiterate her view that the U.S. economy, including the labor market, was recovering but not as strongly as desired. DBS says a drop in the 10-year bond yield below the February 3 low of 2.5761% would send it towards 2.50%. "If so, this could well affirm that markets had been wrong about the tapering of asset purchases benefiting the greenback," the bank says. The spot Dollar Index was recently at 79.466 compared with 79.516 in late New York trade Friday. (jerry.tan@wsj.com)
        (END) Dow Jones Newswires

        May 05, 2014 00:23 ET (04:23 GMT)