XE Market Analysis: Europe – Apr 28, 2021

Finally the dollar has found its feet, with the narrow trade-weighted DXY index posting two consecutive day of higher highs for the first time since late March. The index printed its loftiest level on the week so far at 91.13, extending the modest rebound from Monday’s eight-week low at 90.68. This has been concomitant with longer-dated Treasury yields putting in their most sustained rise in a month, with the 10-year note yield pushing on 1.65% today, up over 10 bp from the nadir seen last week.