fxs_header_sponsor_anchor

News

Dollar index hit 11-day high in Asia as treasury yields rise

  • Dollar index remains bid as treasury yields continue to rise. 
  • The 2-year yield hit fresh 9-year highs. 

The dollar index (DXY), which tracks the value of the greenback against the basket of currencies, rose to 83.99 in Asia - the highest level since April 9. 

The American currency picked up a bid in the US session yesterday, tracking the rally in Treasury yields. The 10-year yield rose above 2.9 percent and extended gains to a one month high of 2.914 percent in Asia. Further, the two-year yield rose to 2.44 percent - the highest level since September 2008. Meanwhile, Fed fund futures yields continue to price the next rate hike in June around 90%, according to Westpac. 

Ahead in the day, the dollar will likely take cues from equities and treasuries, given there are no first-tier economic data scheduled for releases. 

Dollar Index Technical Levels

Acceptance above 90.18 (March 29 high) would open the doors to 90.45 (March 20 high) and 90.60 (April 5 high). On the downside, break below 89.23 (April 17 low) could yield a pullback to 88.94 (March 27 low) and 88.55 (Feb. 1 low). 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.