Dollar on track for weekly losses as US yields decline

2022-06-24 14:09:55 GMT (Economies.com)
Dollar on track for weekly losses as US yields decline

US dollar declined in European trade against major rivals, resuming the losses after a short hiatus yesterday, following Fed Chair Powell's Congressional testimony. 

 

The greenback is heading for the first weekly loss in a month as US yields decline to two-week lows on US recession concerns. 

 

The Index

 

The dollar index fell 0.25% to 104.12, after closing up 0.2% yesterday, the first loss in the last four days following weak manufacturing and services data in Europe. 

 

Yields 

 

US 10-year treasury yields declined 1.6% today for the third session, almost hitting two-week lows at 3.007%.

 

Fed Chair Jerome Powell said the Fed is committed to control prices even if that threatened a recession in the country.

 

Weekly Trading

 

The index is still down 0.5% throughout the week, on track for the first weekly loss in a month. 

 

A spate of data showed a slowdown in US services and manufacturing sectors, triggering fears of a recession in the US.

 
 
 
  Symbol Last Change Chg.%
1.0244
0.0047
0.4599%
1.2122
0.0005
0.0417%
20.642
0.277
1.363%
89.635
1.157
1.308%
95.24
-1.40
1.45%
1793.000
11.325
0.636%
 
 
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