XE Market Analysis: North America – Feb 19, 2021

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 have corrected while base metals have remained buoyant, with copper and nickel, for instance, posting fresh major trend highs.