XE Market Analysis: Europe – Apr 29, 2021

The dollar resumed its now four-week down trend, earlier posting a two-month low at 90.42 by the measure of the DXY index. Speculation that the Fed might have at least hinted at a tapering, which hadn’t been our view, was thwarted, and longer-dated Treasury yields and the dollar duly took a turn lower. The 10-year T-note yield was pressed back under 1.62% after yesterday foraying above 1.65% ahead of the Fed’s announcement.