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%
|
|
