The dollar has turned fractionally softer, giving back some of the gains that it saw on Friday. Ranges among the main currencies have remained narrow, and holidays across Europe today will only exacerbate the quiet conditions. The dollar’s ebb has been concurrent with the 10-year Treasury yield dipping below recent two-week lows near 1.610%. Market […]
The FX market was in snooze mode to start the week, with major Dollar pairings confined to narrow trading bands. The DXY topped at 89.95 early in the session, later dipping to 89.76 lows, then steadying near 89.85. There was no data of note. Wall Street headed higher, with gains coming on easing inflation concerns. […]
The dollar has corrected some of the gains seen following the release of the FOMC minutes from the late April meeting, which showed that “a number” Fed members thought it could be “appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases.” Though we view that […]
The dollar’s softening bias showed itself again, which pushed the currency to two-day lows against the euro and yen, and a three-month low in the case of the pound, which was boosted independently by a round of strong UK data. The dollar bloc rebounded from intraday weakness during the European morning, tracking a rebound in […]
The DXY printed overnight four-plus month low of 89.65 overnight, though caught a bid through the N.Y. session, largely on the back of pre-weekend short covering. The Dollar index peaked at 90.08. Incoming data saw record highs for the May manufacturing and services ISM, which was USD supportive, though existing home sales missed expectations. Wall […]
The dollar has corrected some of the gains seen following the release of the FOMC minutes from the late April meeting, which showed that “a number” Fed members were thinking about when to taper. This pushed longer-dated Treasury yields and the dollar higher, the latter of which printed a three-day high at 90.29 by the […]
The dollar has corrected some of the gains seen following the release of the FOMC minutes from the late April meeting, which showed that “a number” Fed members thought it could be “appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases.” Though we view that […]
After rallying on Wednesday in the aftermath of the FOMC minutes mention of tapering, the Dollar turned broadly lower through the N.Y. session on Thursday. Treasury yields gave back all their post-minutes gains, leaving the 10-year note at 1.63% from 1.69% highs yesterday. The DXY was pushed from early Asian highs of 90.23 to a […]
The dollar lifted out of lows as risk appetite soured in global asset markets, while the dollar bloc and other cyclical currencies wobbled. A side theme was provided by the euro, which managed to whittle out across-the-board gains, which saw EUR-USD print a four-month high at 1.2245, EUR-JPY a 37-month high, EUR-GBP a two-day peak, […]
The euro has whittled out across-the-board gains, which has seen, for instance, seen EUR-USD print a four-month high at 1.2245, EUR-JPY a 37-month high, EUR-GBP a two-day peak, and EUR-AUD a three-month high. There has been no specific catalyst, though market commentaries have for some time been recognizing the rapid improvement in the Covid situation […]
After advancing modestly in London morning trade, the Dollar pulled back through the N.Y. morning session. Overnight, the DXY matched the three-month low of 89.69 seen on Tuesday, later topping at 90.04, then slipping to 89.76 at mid-morning.
The dollar has tracked lower, which shouldn’t be too surprising given the prevailing buy-in of the Fed’s transitory narrative on inflation alongside the fact that the U.S. inflation rate is markedly higher versus peers, which imparts (all else equal) a weakening dynamic on the nominal value of the greenback. The DXY USD index breached the […]