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Dollar weakens as US yields stall

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News Tech: The dollar retreated on Thursday after falling last night, especially against the sterling sterling and the euro, as US yields stopped rising and offered some relief to the battered yen. Traders also waited for the European Central Bank meeting later in the day to see if they were in the same hawkish mood as global traders.

“It’s because US yields keep going up, stocks are going down, the dollar is going up, and it’s all flipped because of what happened with US Treasuries,” Ray Attrill said earlier in the week. rice field. Australia. His 10-year Treasury yield on the benchmark was his 2.7120%. The Federal Reserve (Fed) rose steadily earlier this month and on Tuesday topped U.S. inflation to his 2.836%, boosted by hopes of a more aggressive policy hike to combat inflation reached.

This left the Dollar Index, which measures the dollar against six peers, holding at 99.818 after falling 0.52% overnight. Attrill said some of the moves could be explained by better-than-expected UK CPI figures, alongside the slowdown in US yields. Markets are positioned to suggest the ECB may draw the line on its quantitative easing program in the second quarter rather than the third quarter, Atrrill said.

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