Monday, April 19, 2021

The dollar is falling as US bond yields fall

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The dollar settled near its lowest level in nearly two weeks against a basket of counterparts on Tuesday, tracking lower yields US Treasury bonds From its recent peak despite signs of a strong economic recovery in the United States.

Floor Dollar index To 92.527 in the Asian session, the lowest level since March 25. This comes after it recorded a peak of nearly five months at 93.439.

The Japanese currency continued to recover from its lowest level in more than a year, near 111 yen to the dollar, and strengthened to less than 110 yen for a short period on Tuesday. And continued euro Its rise from its lowest level in about five months to $ 1.17 and at one point reached a high of $ 1.1821.

The dollar has rallied strongly since the start of the year, following the Treasury yield gains as investors bet that the United States will recover at a faster rate than developed countries (SE:2330The other part of the pandemic is under massive stimulus and a massive vaccination campaign.

However, the dollar’s decline this week even after the much stronger than expected monthly wage data released on Friday and following the announcement of the highest reading of service sector activity ever on Monday may indicate that most optimistic expectations may have been taken into account for the time being.

The Australian dollar, which is an indicator of risk appetite, fell slightly to $ 0.76415 on Tuesday, after rising 0.8 percent at the weekend. The Reserve Bank of Australia kept monetary policy unchanged on Tuesday, as expected.

The British pound rose to its highest level in two and a half weeks to $ 1.3915 in Asia, boosting the previous session’s gains, which amounted to 0.6 percent.

And in cryptocurrencies, they traded Bitcoin Near $ 58,882 on Tuesday, pulling back slightly after two days of gains. The currency hit a record high of $ 61,781.83 in the middle of last month.

Source: A.A.A.

The article The Dollar Downs As US Bond Yields Falling was written in the Stock Exchange newspaper.

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