The dollar was holding steady near three-and-a-half month highs against a basket of the other major currencies on Thursday, supported by higher Treasury yields as the U.S. 10-year bond yield held above the 3% level.
The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was trading at 91.02 , within close reach of Wednesday’s highs of 91.04, the most since January 12.
Demand for the dollar continued to be underpinned by rising U.S. yields and the prospect of a faster pace of rate hikes by the Federal Reserve this year.
Expectations of higher interest rates make the dollar more attractive to investors seeking yield. The yield on 10-year U.S. Treasury notes rose above 3% for the first time since 2014 this week, a sign of confidence in the outlook for the U.S. economy.
The dollar eased against the yen, with USD/JPY dipping 0.11% to 109.31 after setting a fresh two-and-a-half month high of 109.46 overnight.
The euro was little changed against the dollar, with EUR/USD last at 1.2167, not far from Wednesday’s two-month trough of 1.2158.
Investors were looking ahead to the European Central Bank’s monetary-policy meeting later Thursday to gauge whether officials are growing more confident on the inflation outlook.
The ECB was expected to keep monetary policy unchanged and indicate that it is still on track to wind up its bond purchasing stimulus program by the end of the year.
The pound was trading at five-week lows, with GBP/USD last at 1.3923, almost unchanged for the day.
The Australian dollar was holding above the previous sessions four month trough, with AUD/USD last at 0.7561.
The New Zealand dollar plumbed fresh four month lows, with NZD/USD sliding 0.14% to 0.7058.
For More Information Whatsapp@ +91-9981999934 or Visit Here@ http://sapforex24.com/
The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was trading at 91.02 , within close reach of Wednesday’s highs of 91.04, the most since January 12.
Demand for the dollar continued to be underpinned by rising U.S. yields and the prospect of a faster pace of rate hikes by the Federal Reserve this year.
Expectations of higher interest rates make the dollar more attractive to investors seeking yield. The yield on 10-year U.S. Treasury notes rose above 3% for the first time since 2014 this week, a sign of confidence in the outlook for the U.S. economy.
The dollar eased against the yen, with USD/JPY dipping 0.11% to 109.31 after setting a fresh two-and-a-half month high of 109.46 overnight.
The euro was little changed against the dollar, with EUR/USD last at 1.2167, not far from Wednesday’s two-month trough of 1.2158.
Investors were looking ahead to the European Central Bank’s monetary-policy meeting later Thursday to gauge whether officials are growing more confident on the inflation outlook.
The ECB was expected to keep monetary policy unchanged and indicate that it is still on track to wind up its bond purchasing stimulus program by the end of the year.
The pound was trading at five-week lows, with GBP/USD last at 1.3923, almost unchanged for the day.
The Australian dollar was holding above the previous sessions four month trough, with AUD/USD last at 0.7561.
The New Zealand dollar plumbed fresh four month lows, with NZD/USD sliding 0.14% to 0.7058.
For More Information Whatsapp@ +91-9981999934 or Visit Here@ http://sapforex24.com/
ReplyDeleteThe crucial resistance for Nifty spot is now seen at 10790 and above this 17920. Support for the immediate term is now placed at 10640 next support will be 10530.
financial advisory company