XE Market Analysis: Europe – Apr 16, 2021

The dollar has managed to find a toehold, rising above its prior day high for the first time in nine days today by the measure of the narrow trade-weighted FX index, which printed a three-day high at 91.82. The high marks an extension of the rebound from yesterday’s one-month low at 91.49. The low was concomitant with the 10-year Treasury note yield hitting a five-week nadir at 1.53%, which extended the yield correction from the highs seen in late March to some 22 bp. The 10-year yield has since lifted by nearly 6 bp from the lows.