Dollar on track for second straight weekly loss on US bonds slide

2021-04-16 14:24:40 GMT (Economies.com)
Dollar on track for second straight weekly loss on US bonds slide

The US dollar fell against a basket of major currencies on Friday, resuming its losses after taking a breather yesterday, to head today for its 1-month low and the second weekly loss in a row, due to the latest developments in the US bond market.

 

The dollar index fell 0.2% to 91.50 points, after opening at 91.66 points, and hit a low of 91.81 points.

 

The greenback gained less than 0.1% yesterday, within recovery attempts from a 1-month low of 91.49 points.

 

The US dollar index lost 0.75% so far this week, to head for the second weekly loss in a row due to improved risk appetite and slowing demand.

 

The market sentiment improved after the release of strong economic data in the US and China, which boosted hopes for a fast and strong economic recovery around the world, in addition to a drop in the US Treasury bond yields.

 

The 10-year US Treasury yield fell this week, and hit a 5-week low of $1,529, after after Federal Reserve officials repeatedly assured that interest rates will remain low until there is a safer economic recovery.

 

Fed Chair Jerome Powell said the Fed will cut its monthly bond purchases in the appropriate time before it commits to increasing interest rates.

 
 
 
  Symbol Last Change Chg.%
1.2084
-0.0089
0.7311%
1.4036
-0.0100
0.7067%
Tadawul
10322.68
86.96
0.85%
26.928
-0.876
3.152%
64.610
-0.782
1.196%
67.79
-1.53
2.21%
1815.380
-28.845
1.564%
 
 
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