The dollar retreated on Monday after a stellar run as the pick for U.S. Treasury secretary seemed to reassure the bond market about fiscal discipline, pulling yields lower and shaving some of the currency's rate advantage.
Yields on 10-year Treasuries slipped to 4.343%, from 4.412% late on Friday, as President-elect Donald Trump's choice of fund manager Scott Bessent was welcomed by the bond market as an old Wall Street hand and fiscal conservative.
However, Bessent has also openly favoured a strong dollar and supported tariffs, suggesting any pullback in the currency might be fleeting.
The dollar has risen for eight consecutive weeks with many technical indicators flashing overbought on bets Trump's policies would stoke inflation and further support the greenback.
The dollar index was down 0.8% at 107.22 from its two-year peak of 108.090 on Friday. The greenback dipped 0.2% versus the Japanese yen to 154.52 , and further away from its recent peak of 156.76.
The euro edged up 0.3% to $1.0452 and away from Friday's two-year trough of $1.0332. Resistance is up at $1.0555 and $1.0610, with support around $1.0195 and the major $1.0000 level.
Source : Reuters
The dollar was steady on Monday as traders looked ahead to a slew of speeches from Federal Reserve officials throughout the week that could provide further clues on the U.S. rate outlook, after the ce...
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, has lost its daily gains and is trading around 97.00 during the European hours on Thursday. Tra...
The U.S. dollar was steady early on Thursday following its plunge to a 3-1/2-year low and then forceful rebound as traders grappled with the ramifications of the Federal Reserve's measured rheto...
The US Dollar (USD) is showing signs of stabilization heading into Wednesday's FOMC, with modest gains against most of the G10 currencies as it attempts to claw back a portion of this week's losses, S...
The dollar was on the defensive, shares edged lower, and gold scaled new heights on Wednesday as global markets counted down to an anticipated rate cut by the Federal Reserve later in the day and wait...
Crude oil prices rose on Monday, driven by geopolitical tensions in Europe and the Middle East, although market concerns remained over potential additional supply and the impact of trade tariffs on global demand. Brent crude rose 0.67% to $67.13...
Both the STOXX 50 and the STOXX 600 were little changed on Monday, as traders began the week cautiously ahead of remarks from several Fed officials that could help shape the monetary outlook for the rest of the year. Investors also weighed...
Japan stocks were higher after the close on Monday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 gained 1.02% to hit a new all time high. The best performers of the session on...
US stocks closed at new highs on Friday (September 19), continuing their record-breaking rally from the previous session as investors digested...
European stocks closed slightly higher on Friday (September 19th) as strength in the heavyweight financial sector offset mixed movements elsewhere,...
US equities were higher on Friday, extending momentum after the three major benchmarks notched fresh record closes in the previous session. For the...
Asia-Pacific markets traded higher Monday, tracking Wall Street's gains on Friday stateside, as investors awaited China's key lending rate decision...