XE Market Analysis: Europe – Mar 08, 2021

The dollar has remained on a firming bias, buoyed by news, albeit expected news, that the U.S. Senate passed the $1.9 bln fiscal relief bill on Saturday. The bill will now pass to the House and then to President Biden’s desk, and the stimulus could start being unleashed as soon as the week’s end. This follows Friday’s unambiguously strong U.S. February payrolls, and the Fed chairman’s tacit approval of rising yields. Treasury yields have remained perky, with the 10-yar note narrowing on 1.60%, nearly 70 bp up on levels that were seen at the start of the year.