XE Market Analysis: North America – Oct 28, 2020

The dollar and yen are higher on safe haven positioning, and bitcoin hit its best level in almost three years, while European and the dollar bloc currencies came under pressure alongside many currencies from the newly developed and developing world. U.S. Treasuries have remained underpinned as liquid capital seeks harbour, with the dollar holding up despite a 10bp-plus drop in the 10-year T-note yield over the last week and a corresponding decline in the U.S. yield differentials relative to peers, including the Bund.