XE Market Analysis: Europe – Feb 22, 2021

Shifting yield differentials have continued to drive currency direction. At the 10-year maturity level, Australian yields have, for instance, risen more over the last week than most peers, which has driven the Aussie dollar to fresh trend highs against most currencies. UK yields have also been among those showing the biggest basis point rise, even more than U.S. Treasuries over the last week, which has seen the pound clock a new major trend high against the dollar today.