XE Market Analysis: North America – Mar 09, 2021

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The dollar posted fresh highs before receding, with the DXY index hitting a fresh 15-week peak at 92.50 and then declining to levels around 91.91. The greenback’s softening was concomitant with a dip in U.S. Treasury yields, which was seen as the Asian session progressed. The 10-year U.S. note yield dropped, quite sharply, below 1.53%, after peaking yesterday at levels above 1.610%. At the same time, stock markets in Asia rebounded from early declines, European bourses rallied and U.S. equity index futures rebounded after a mixed close on Wall Street yesterday.