XE Market Analysis: Europe – Apr 30, 2021

The dollar is trading with some buoyancy after basing at new trend lows yesterday. The narrow trade-weighted DXY USD index lifted back above 90.70 after printing a two-month low yesterday at 90.42. EUR-USD concurrently ebbed back to near the 1.2100 level from its two-month high at 1.2150, and USD-JPY settled slightly off yesterday’s 17-day high at 109.22. The 10-year U.S. T-note yield, which remains a fixation for forex markets, has been orbiting the 1.650% level over the last day — remaining up by over 10 bp on the lows that were seen last week.