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The dollar is up, but remains close to a one-month low as U.S. yields retreated by Investing.com


© Reuters.

By Gina Lee

Investment.com – The dollar rose on Monday morning in Asia but remains close to a one-month low as Treasury yields hovered near a five-week low after the US Federal Reserve reiterating the view that any spike in inflation would be temporary.

Improved risk sentiment amid global equities rising to record highs also limits the US currency’s gain.

Watching the greenback against a basket of other currencies rose 0.11% to 91,648 at 12:30 AM ET (4:30 AM GMT), hovering close to the 91,484 low reached last week at levels not seen before. from March 18.

This pair fell 0.11% to 108.66.

The pair edged up 0.01% to 0.7734, with the Reserve Bank of Australia issuing. Meanwhile, the pair edged up 0.01% to 0.7140.

The pair edged up 0.07% to 6.5249 and the pair edged up 0.05% to 1.3837.

“The fixed income market will rule my world this week,” said Chris Weston, head of research at Pepperstone Markets Ltd, with the risk now leaning toward further yield cuts, putting pressure on force on the greenback.

Wall Street gains amid low volatility “will keep USD rallies contained and attract more USD sellers” as 10-year benchmark yields could drop to as low as 1.47% from the current 1.56%, notes adds.

The index fell to as low as 1.5280% last week from a more than a year high of 1.7760% at the end of March, thereby reducing the US’s attractiveness as an investor.

Meanwhile, the Governor of the US Federal Reserve told CNBC Friday that the US economy is “ready to break down” as the COVID-19 vaccination continues and economic activity increases. He also added that the inflation spike could be temporary, echoing comments from other Fed officials including Chairman Jerome Powell last week.

Further pullback from the record high of $ 64,895.22 reached on April 14 as it plunged over the weekend. According to data website CoinMarketCap, a power outage in China’s Xinjiang region, which supplies many bitcoin mining operations, is believed to have caused the selloff.

Analysts at the Australian National Bank (OTC 🙂 cite “speculation in some online reports” that the US Treasury Department may prevent money laundering in digital currencies because of decreased significantly.

The Central Bank of the Republic of Turkey’s decision to ban the use of cryptocurrencies for trading also contributed to the decline in cryptocurrencies.

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