LONDON—The U.S. dollar resumed its backward slide on Monday as risk appetite across markets tentatively strengthened, supported by more encouraging economic data and bets that the Federal Reserve will tighten policy at a slower pace.
The dollar index—which tracks the greenback against six major rivals—is on track for its first monthly drop in five, as the safe haven currency loses steam after a breakneck start to the year.
The dollar index is on track for a more-than 1.5 percent drop in May—although it remains up about 6 percent on the year. It was last down a quarter of a percent on the day at 101.44….