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Higher US yields boost dollar - MarketPulse


Higher US yields boost dollar
January 11, 2021SharePrint
The US dollar continues to squeeze higher
Rising US yields saw the US dollar continue to squeeze higher on Friday, with the dollar index rising 0.30% to 90.10. That theme has continued today, with the dollar index marching another 0.35% higher to 90.40 in Asia. The dollar index has critical resistance at 91.00. A daily close above that level signals that the US dollar short squeeze had the potential to extend much further.
The pro-cyclical Australian and New Zealand dollars have both lost 0.65% today and broken technical supports in the process. The AUD/USD has moved through support at 0.7750 to 0.7705 today, signalling further losses to 0.7600 initially. NZD/USD’s fall to 0.7200 broke technical support at 0.7240, signalling further losses to 0.7000. ....

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