Dollar falls near 2-week low ahead of Jerome Powell's remarks

2021-04-08 13:31:07 GMT (Economies.com)
Dollar falls near 2-week low ahead of Jerome Powell's remarks

The US dollar fell on Thursday, to resume its losses after taking a breather yesterday, near its 2-week low, due to a drop in the US Treasury bond yields, ahead of the Federal Reserve Chairman Jerome Powell's statements.

 

The dollar index fell 0.2% to 92.22 points, after opening at 92.41 points, and hit a high of 92.48 points.

 

The US dollar gained 0.1% yesterday, its first gain in 3 days, after earlier hitting a 2-week low at 92.13 points.

 

The decline comes amid improving sentiment in the market as risk appetite gets revived while US treasury yields tumble. 

 

10-year US treasury yields fell over 1.2% to 1.651% on track to pierce two-week lows at 1.631, after the Fed asserted it'll keep buying up bonds for a long time. 

 

Fed's minutes of the last meeting showed policymakers are still wary of Covid 19 risks even as the economy starts recovery, with the Fed committed to easy monetary policy until total recovery is ensured. 

 

At 12:30 GMT, unemployment claims for the week ending April 2 are expected down to 682 thousand from 719 thousand.

 

At 16:00 GMT, Federal Reserve Chairman Jerome Powell will participate in a panel discussion about the global economy at a virtual International Monetary Fund Seminar.

 
 
 
  Symbol Last Change Chg.%
1.2048
0.0022
0.1809%
1.3880
-0.0072
0.5196%
Tadawul
10127.90
18.31
0.18%
26.053
0.262
1.016%
61.982
-1.196
1.893%
65.88
0.49
0.75%
1782.150
10.700
0.604%
 
 
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