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The greenback snapped a three-day losing streak amid focus on French budget talks and a fresh currency warning by President-elect Donald Trump. The Bloomberg Dollar Spot Index rises as much as 0.6% while the yield on 10-year Treasuries is up by three basis points to 4.20%. Trump warned the so-called BRICS countries he would require a commitment that they wouldn't create a new currency as an alternative to using the greenback, and repeated threats to levy a 100% tariff if they did. This is a tactic that risks backfiring, market watchers say. EUR/USD drops 0.8% to 1.0496 before paring losses; one-week risk reversals rise to 13 basis points, puts over calls. French bonds came under pressure after the far-right party renewed its threats to bring down Prime Minister Michel Barnier's government if its demands over the 2025 budget aren't met. USD/JPY halves a 0.7% gain to trade at 150.29; options-related offers capped the rebound. GBP/USD down 0.4% to 1.2679; EUR/GBP set for fifth daily drop, trades 0.3% lower on the day at 0.8279. Source: Bloomberg |
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