Bears down on the US dollar

Bear down on US dollars, with the world’s largest economy in an extended bear market.

The US dollar has been at a 12-month low against the greenback, which was last hit by a series of bank runs, which forced the government to print more money to pay its bills.

But the central bank’s rate cut in November saw the currency plummet again, with overnight trading on the greenbacked falling by a fifth of a cent, the biggest drop since November.

The dollar hit a six-month high against the euro on Wednesday and has since dropped to a two-month trough against the Japanese yen, the most volatile currency in the world.