Dollar Down Over Rising U.S. Yields
Forex Signals – The dollar was down on Tuesday morning in Asia, remaining near a six-week low as the euro climbed on the back of a rallying COVID-19 vaccine rollout.
The U.S. Dollar Index that tracks the greenback against a basket of other currencies edged down 0.14% to 90.927 by 1:23 PM ET (5:23 AM GMT), losing 2.5% from its five-month peak hit in March.
The USD/JPY pair inched up 0.02% to 108.18 after the dollar fell to as low as 107.975 yen, its weakest in more than six weeks.
The AUD/USD pair was up 0.48% to 0.7794 after hitting a one-month high of 0.7784 on Monday as the Reserve Bank of Australia released the minutes from its latest policy meeting earlier in the day. Across the Tasman Sea, the NZD/USD pair was up 0.42% to 0.7210.
The USD/CNY pair was down 0.21% to 6.4949, with the offshore Chinese yuan firming to 6.5075 per dollar, near its highest level in almost a month.
The GBP/USD pair inched up 0.10% to 1.3998.
The dollar had already been losing traction as U.S. bond yields have hovered below a 14-month peak touched last month, reducing the greenback’s yield attraction.
Dollar Up Holds Onto Biggest Gains
That also opens up room for dollar weakness against a broad set of currencies,” said Goldman’s Pandl.
In cryptocurrencies, bitcoin traded at $54,122, down 1.5% after four consecutive days of losses. FX Signals
Dollar Down Over Rising U.S. Yields Forex Signals – Dollar Gains as Yields Rise
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Dollar stronger amid higher U.S. yields
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Dollar Down Over Rising U.S. Yields
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