Dollar rebounds from 3-week low after US bond yield jumps
The US dollar rose against a basket of currencies on Wednesday, and rebounded from the 3-week low hit yesterday, to head for the first daily gain in 6 days, thanks to strong demand after the 10-year US Treasury bond rose.
The dollar index rose 0.1% to 93.88 points, after opening at 93.80 points, and hit a high at 93.67 points.
The index lost less than 0.2% yesterday, the fifth straight daily loss, and hit a 3-week low at 93.50 points.
The US dollar fell recently due to correction and profit-taking from a 13-month peak, and after the release of weak data on industrial production in the US.
The 10-year US Treasury yield rose 2.1% today, and hit a 5-month high at 1.673%, which lifts demand for the greenback.
This came due to growing odds that the Federal Reserve will start reducing its bond-buying program during its next meeting, which is an essential step before an interest rate hike.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.1313
|
0.0042
|
0.3767%
|
|
|
|
|
1.3313
|
0.0003
|
0.0259%
|
|
|
|
Tadawul
|
10810.60
|
-60.02
|
0.55%
|
|
|
|
|
22.849
|
-0.196
|
0.851%
|
|
|
|
|
68.323
|
-4.078
|
5.633%
|
|
|
|
|
72.57
|
-0.87
|
1.18%
|
|
|
|
|
1794.470
|
9.380
|
0.525%
|
|
