Dollar Suffers Heavy Selling

The dollar weakened broadly on Wednesday with selling pressure unabated following a technically driven sell-off in the previous session.

Two days ahead of U.S. trade data, concerns about the U.S. current account deficit and the willingness of foreigners to continue funding it are adding to the dollar’s woes.

Constant talk of central bank reserve diversification, Middle East tensions and instability were just more reasons to sell cited by investors wary of holding dollars.