XE Market Analysis: Europe – Oct 28, 2020

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The dollar and yen are higher on safe haven positioning, and bitcoin hit its best level in almost three years. U.S. Treasuries have remained underpinned as liquid capital seeks harbour, with the dollar holding up despite a 10bp drop in the 10-year T-note yield since last Thursday, which has seen the U.S. yield differential decline relative to peers, including the Bund. The dollar is also just over 1% up on gold over the last week in a further confirmation that the currency is functioning as a safe haven. U.S.