U.S. Dollar Appreciates Amid Higher Treasury Yields

RTTNews | 896天前
U.S. Dollar Appreciates Amid Higher Treasury Yields

(RTTNews) - The U.S. dollar strengthened against its major counterparts in the European session on Wednesday amid rising treasury yields, as hawkish comments from Federal Reserve officials revived the prospects of aggressive monetary tightening and the threat of a recession.

Minneapolis Fed President Neel Kashkari said on Tuesday that the central bank may require to lift its benchmark policy rate above 4.75 percent if underlying inflation did not move down.

Atlanta Fed president Raphael Bostic said inflation remained elevated and that is creating tension and disequilibrium in the market place.

The dollar index that tracks the greenback against a basket of other currencies touched 112.54.

The yield on the 10-year U.S. treasury note rose to 4.067 percent. Yields move inversely to bond prices.

Investors await U.S. housing data for September and the Fed's Beige book report for more direction.

The greenback climbed to 2-day highs of 1.1245 against the pound and 0.9805 against the euro, after dropping to 1.1358 and 0.9873, respectively in early deals. The greenback is seen finding resistance around 1.10 against the pound and 0.96 against the euro.

The greenback touched a 32-year high of 149.48 against the yen and a 2-day high of 1.0010 against the franc, up from its prior lows of 149.10 and 0.9929, respectively. The greenback is likely to test resistance around 153.00 against the yen and 1.02 against the franc.

In contrast, the greenback pulled back to 0.5702 against the kiwi, 0.6317 against the aussie and 1.3724 against the loonie, following its previous highs of 0.5668, 0.6286 and 1.3785, respectively. The greenback may test support around 0.61 against the kiwi, 0.69 against the aussie and 1.32 against the loonie.

Looking ahead, Canada inflation data and U.S. building permits and housing starts, all for September, as well as the Fed Beige book report will be released in the New York session.

read more
U.S. Dollar Drops Ahead Of Trump's Tariffs

U.S. Dollar Drops Ahead Of Trump's Tariffs

The U.S. dollar fell against its major counterparts in the New York session on Tuesday after weak economic data, while investors awaited more details on U.S. President Donald Trump's reciprocal tariff announcements set to be announced on Wednesday.
RTTNews | 17小时4分钟前
Euro Falls As Eurozone Inflation Slows Slightly

Euro Falls As Eurozone Inflation Slows Slightly

The euro weakened against other major currencies in the European session on Tuesday, as the soft Eurozone inflation data in March contributed to the already high expectations for another interest rate decrease by the European Central Bank later in April.
RTTNews | 23小时53分钟前
Euro Falls Against Majors

Euro Falls Against Majors

The euro weakened against other major currencies in the European session on Tuesday.
RTTNews | 1天前
Commodity Currencies Recover On Spiking Oil Prices

Commodity Currencies Recover On Spiking Oil Prices

The commodity currencies such as the Australia, New Zealand and the Canadian dollars recovered from recent weakness against their major counterparts in the Asian session on Tuesday, as the oil prices surged due to supply concerns following U.S. President Donald Trump's threat of oil taxes against Russia.
RTTNews | 1天前