Month: February 2021

The DXY to 90.92 highs in N.Y. on Friday, a seven-session peak, and up from overnight lows of 90.13. The Greenback reversed Thursday’s losses, which came on the back of inflation fears, driven by surging Treasury yields. Since then, the market calmed some, with the USD advancing on those same higher yields. Incoming data was… Read more »

The dollar and yen rallied as a risk-off theme coursed through global markets, with equity markets, commodities, including base metals and oil, all tumbling. The sharp spike in U.S. and most other sovereign yields this week and the associated concerns about inflation have driven the correction in risk assets and currencies. Source: XE news… Read more »

The dollar and yen rallied as a risk-off theme coursed through global markets, with equity markets, commodities, including base metals and oil, all tumbling. The sharp spike in U.S. and most other sovereign yields this week and the associated concerns about inflation have driven the correction in risk assets and currencies. Source: XE news… Read more »

The DXY printed fresh seven-week lows of 89.68 in N.Y. morning trade on Thursday, despite better U.S. data, which included lower than expected jobless claims, an in-line Q4 GDP revision, and a surge in durable orders. The data had little impact on the Dollar, as focus remained on inflation, with higher Treasury yields being read… Read more »

The DXY dollar index has sank to seven-week lows under 89.75 following Fed chair Powell’s successful attempt to convince markets that the punch bowel of monetary stimulus isn’t going to be taken away anytime soon, even in the face of rising inflation. While admitting that asset prices are “somewhat elevated” and that there would be… Read more »

The DXY dollar index has sank to new six-week lows under 89.95 following Fed chair Powell’s successful attempt to convince markets that the punch bowel of monetary stimulus isn’t going to be taken away anytime soon, even in the face of rising inflation. While admitting that asset prices are “somewhat elevated” and that there would… Read more »

The DXY perked up slightly in N.Y. trade on Wednesday, though aside from USD-CAD, which slipped to trend lows, most major USD pairings ended the session largely unchanged. After losing ground late last week, the Greenback has steadied inside of relatively narrow trading bands, with the market appearing to be uncertain on general direction going… Read more »

The dollar has been trading mixed so far today, rising against an underperforming yen, holding steady against the euro while losing ground to dollar bloc, which were led higher by a charge in the New Zealand dollar, and the pound, which saw an outsized rally during the Asian session. The pound’s gains were notable, with… Read more »

The pound and the New Zealand dollar surged to fresh trend highs, which along with a side theme of yen weakness, provided the main action during Asian trading ahead of the London interbank open. Cable spiked by some 180 pips from yesterday’s New York closing level in posting a fresh 36-month high at 1.4234. The… Read more »

The DXY was a bit choppy on Tuesday in N.Y., though inside a narrow trading band of 90.26 to 90.01 through the session after printing better than one-month lows of 89.94 in Asia. The USD revealed some safe-haven characteristics through the session, generally rising as Wall Street was hammered lower early on firmer yields and… Read more »

The dollar lifted out of lows following a four trading day run lower, lifted in part by a sharp drop in cryptocurrencies and a correction in base metals, which had earlier in many cases printed new multi-year highs. Equity markets also saw pronounced declines following some disappointing corporate earnings reports. Amid this, the DXY dollar… Read more »

The dollar remained on a softening path in what is now a fourth consecutive trading day of weakening, which has spanned over phases both risk-on and risk-wary sentiment in global markets, alongside a continued ascent in Treasury yields. Overall, as witnessed by gains in commodity prices over this period, which have been attributed by some… Read more »

The DXY fell to its lowest level since January 13, bottoming at 90.00 in N.Y. trade on Monday, down from 90.30 at the open, and the 90.57 top seen overnight. The Greenback had been on the rise overnight, as the U.S. 10-year Treasury yield hit a one-year high near 1.40%. Yields later ebbed in N.Y.,… Read more »

It’s all about yield differentials in currency markets at the moment. The Aussie dollar, for instance, has pegged fresh trend highs against most currencies in synchrony with Australian yields rising more than peers over the last week. UK yields have also been among those showing the biggest basis point rise, even more than U.S. Treasuries… Read more »

Shifting yield differentials have continued to drive currency direction. At the 10-year maturity level, Australian yields have, for instance, risen more over the last week than most peers, which has driven the Aussie dollar to fresh trend highs against most currencies. UK yields have also been among those showing the biggest basis point rise, even… Read more »

The Dollar index stumbled in the London morning session, hitting a low in early N.Y. before rebounding modestly. The index approached the three-week low of 90.12 seen on Tuesday, later topping at 90.65. Rising price pressures in the Markit PMI reports lifted yields, which provided support to the USD, as did pre-weekend short covering. Incoming… Read more »

The dollar has softened for a second consecutive day, despite U.S. Treasury yields perking up, although remaining off trend highs seen earlier in the week. Global stock markets have continued to exhibit a sputtering price action in the face of historically stretched valuations and the recent spike in yields. In the commodity realm, oil prices… Read more »

The dollar has softened for a second consecutive day, despite U.S. Treasury yields perking up, although remaining off trend highs seen earlier in the week. Global stock markets have continued to exhibit a sputtering price action in the face of historically stretched valuations and the recent spike in yields. In the commodity realm, oil prices… Read more »