US Dollar Index remains under pressure below 91 00 fxstreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxstreet.com Daily Mail and Mail on Sunday newspapers.
4/19/2021 7:51:59 AM GMT | By Pablo Piovano
DXY loses the grip and retreats to lows near 91.30.
US 10-year yields look steady in the 1.55% region.
The risk-on sentiment gathers further pace early on Monday.
The greenback, when tracked by the
US Dollar Index (DXY), starts the week on the defensive and drops to multi-week lows near 91.30.
US Dollar Index weaker on steady yields, risk-on
The index adds to Friday’s losses and reaches new multi-week lows in the vicinity of 91.40 on the back of the consolidative mood in US yields and the extra improvement in the risk complex.
Indeed, yields of the US 10-year benchmark appear stabilized in the lower bound of the recent range around 1.55%.
4/16/2021 4:26:40 PM GMT
USD/JPY falters as Treasury yields slide, drops 1% on the week.
10-year yield sheds 15 points to Thursday, recovers 5 on Friday.
Excellent US Retail Sales, Jobless Claims provide no immediate dollar support.
Consolidation likely in USD/JPY as markets await initial US second quarter data.
FXStreet Forecast Poll predicts extending USD/JPY weakness.
In a classic case of following the bouncing yields, the USD/JPY sank for the first four days as US Treasury yields saw their steepest losses in a month then rebounded as the credit market reversed on Friday.
From Monday’s close at 1.675% the return on the benchmark 10-year note dropped 15 basis points to 1.530% on Thursday and the USD/JPY descended from 109.66 to 108.78. Friday’s reversal in yield, up six points to 1.59% stabilized the USD/JPY above 108.80 after Thursday’s intra-day dip to 108.61.
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Apr 15, 2021 07:41 GMTFXStreet News
DXY is up smalls around 91.70 ahead of the European opening.
Fed’s Powell said the economy is expanding quickly.
Retail Sales, Initial Claims next of note in the calendar.
The greenback, in terms of the
US Dollar Index (DXY), trades slightly on the positive territory around the 91.70 region ahead of the opening bell in the European markets on Thursday.
US Dollar Index now looks to data
The index so far reverses three consecutive daily pullbacks and manages to rebound from recent multi-week lows in the mid-91.00s.
The leg lower in the dollar comes amidst the steady performance in yields of the key US 10-year reference, which remain side-lined around the 1.63% region for the time being.