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LONDON/NEW YORK, Oct 30 - The U.S. dollar fell on Monday, dropping to a two-week low against the yen, as traders looked ahead to several major central bank meetings and a slew of major economic data releases this week.
"The U.S. dollar is sliding a little this morning, but not in any measure that puts it trading outside recent ranges," said Helen Given, FX trader at Monex USA in Washington. That refunding announcement comes as mounting deficits and a heavier interest rate burden have substantially increased the U.S. Treasury's funding needs. Since the last refunding announcement in August, borrowing rates have spiralled to their highest since 2006-07.
In the mix in Europe on Monday was cooling German state inflation data, which pointed to slowing headline inflation in the euro zone's largest economy, and a separate release showing German gross domestic product fell by 0.1% quarter on quarter in the third quarter, though this was above expectations.
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