THE STANDARD
MONEY & CAREERS
By Reuters | April 12th 2021
The dollar gained ground on Monday after last week’s drop as traders assessed the outlook for Treasury yields, while awaiting crucial U.S. inflation and retail sales data in coming days.
Elsewhere it was a quiet start to a data-heavy week for foreign exchange markets.
The euro dipped back below $1.19 while the British pound briefly fell to a two-month low, with some analysts citing blood clot concerns around AstraZeneca’s COVID-19 vaccine, which the UK has relied heavily on for its aggressive vaccination programme.
The dollar’s fortunes have been tied to the performance of Treasury yields for most of 2021, after concerns about rising inflation in the United States and a stimulus-fuelled economic rebound triggered a significant jump in yields on U.S. government bonds in February.