XE Market Analysis: North America – Mar 08, 2021

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The dollar has continued higher, buoyed by news, albeit expected news, that the U.S. Senate passed the $1.9 bln fiscal relief bill on Saturday. The bill is now expected to sail through the House and then onto President Biden’s desk, and the stimulus could start being unleashed within the week. This follows Friday’s unambiguously strong U.S. February payrolls, and the Fed chairman’s tacit approval of rising yields. Treasury yields have duly remained perky, with the 10-year note venturing above 1.60%, some 70 bp up on levels that were seen at the start of the year.