the US dollar exchange rate fell during the Asian session on Thursday, halting the rebound momentum from Wednesday, as concerns about a possible depreciation of the dollar resurfaced, outweighing the impact of US Treasury Secretary Yellen's reaffirmation of a strong dollar policy. The "new bond king" Gundlach stated that the dollar has not behaved like a safe-haven currency for some time, as investors prefer tangible assets such as precious metals.

Damien Loh, Chief Investment Officer and Co-founder of hedge fund Ensemble Capital, said: "Yellen used 'strategic ambiguity' when talking about the dollar." He explained: "A comprehensive weak dollar policy like the one initially advocated by Trump could create a self-reinforcing trend and get out of control, so Yellen is trying to temper those expectations, although I think they still want the dollar to gradually weaken."