The US dollar strengthened again in today's session after being pressured by news of the US government reopening and expectations that delayed economic data would show weakness. However, the increase came due to comments from Federal Reserve (The Fed) officials that were more hawkish than market expectations, particularly the statement that an interest rate cut was unlikely in the near future.
The dollar's rise was also supported by a surge in US bond yields, which made dollar-denominated assets more attractive in terms of yield compared to other currencies. With rising Treasury yields, the interest rate differential supported the greenback's strength.
However, analysts warned that this strength may not be sustainable. The dollar remains overshadowed by the risk of slowing US economic growth, and the release of important economic data delayed due to the shutdown is still ongoing, so market participants remain vigilant about the potential for further weakness.
Source: Newsmaker.id
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