Dollar rebounds on rising US bond yield

Economies.com
2021-10-18 12:30PM UTC

The US dollar rose against its peers on Monday, to head for the first gain in 4 days, as demand increased after the US T-bonds rose, which comes ahead of key US data later today.

 

The dollar index rose more than 0.2% to 94.17 points, after opening at 93.95 points, and hit a high at 93.91 points.

 

The US dollar index fell 0.1% on Friday, posting the third straight daily loss, due to slowdown in demand.

 

The US dollar index lost 0.2% last week, and posted its first weekly loss, after the US bonds' rally faltered.

 

The 10-year US Treasury bond rose today by 3.0%, towards four-month highs at 1.636%, bolstering dollar demand.

 

The Federal Reserve is expected to start trimming its bonds purchases program next month, with markets pricing a US rate hike in September 2022.

 

At 13:15 GMT, the US industrial production index reading will be released, amid forecasts to rise 0.3% in September from 0.4% in August, and the capacity utilization rate is expected to reach 76.6% from 76.4%.

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