XE Market Analysis: North America – Apr 29, 2021

The dollar extended its post-Fed announcement decline before rebounding some. The DXY dollar index posted a two-month low at 90.42 before recouping to around 90.70, while EUR-USD pegged a two-month high at 1.2150 before ebbing back towards 1.2100. The lack of even a hint of a possible tapering by the Fed yesterday saw the 10-year T-note yield press back under 1.62% at the lows earlier, though the yield subsequently lifted back to 1.66% with markets anticipating a solid 5.8% y/y print on today’s U.S.