FOREX TradingCharts.com

Forex News: U.S. Dollar Weakens Amid Falling Treasury Yields

U.S. Dollar Weakens Amid Falling Treasury Yields

11/09/2021 - 04:12:00 (RTTNews)

(RTTNews) - The U.S. dollar came under pressure in the Asian session on Tuesday amid falling treasury yields, as investors awaited a decision from President Joe Biden regarding his choice for the top post at the Federal Reserve.

The benchmark yield on the 10-year note fell 1.49 percent. Yields move inversely to bond prices.

Treasuries gained following news that Fed Governor Lael Brainard was interviewed for the post at the White House last week.

Chairman Jerome Powell and Brainard are the most preferred candidates for the Fed leadership and Biden has said that he would make a decision in the coming days.

Brainard is perceived as more dovish and market participants hope that the Fed would be more slow in the tightening of policy following her potential appointment.

Investors focus on U.S. producer inflation, as well as speeches from central bank chiefs, including ECB President Lagarde, BoE President Bailey and Fed Chairman Powell due later in the day.

The greenback hit 5-day lows of 1.3582 against the pound and 1.1607 against the euro, down from its prior highs of 1.3548 and 1.1577, respectively. The next possible support for the greenback is seen around 1.37 against the pound and 1.18 against the euro

The greenback fell to a 5-day low of 1.2429 against the loonie and a fresh 4-week low of 112.73 against the yen, off its previous highs of 1.2459 and 113.29, respectively. The greenback is likely to find support around 1.23 against the loonie and 110.00 against the yen.

The greenback edged down to 0.7429 against the aussie and 0.7174 against the kiwi, after rising to 0.7390 and 0.7148, respectively in early trades. The greenback is seen facing support around 0.76 against the aussie and 0.74 against the kiwi.

The greenback declined to 0.9117 against the franc, reversing from an early high of 0.9140. The greenback may face support around the 0.90 region, if it falls again.

Looking ahead, German ZEW economic sentiment for November is due out in the European session.

European Central Bank President Christine Lagarde is due to deliver opening remarks at the ECB Forum on Banking Supervision at 8 am ET.

U.S. PPI for October is scheduled for release in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Pound Depreciates On New Covid-19 Variant Concerns (07 hr(s), 07 min(s), 26 sec(s) ago)
(RTTNews) - The pound fell against its most major counterparts in the European session on Friday, ...Full Story»

Australian, NZ Dollars Fall; Yen Climbs As New Variant Sparks Risk Aversion (12 hr(s), 28 min(s), 26 sec(s) ago)
(RTTNews) - The Australian and NZ dollars weakened against their major counterparts in the Asian s ...Full Story»

Euro Higher After ECB Minutes (05 hr(s), 25 min(s), 26 sec(s) ago)
(RTTNews) - The euro was higher against its most major counterparts in the European session on Thu ...Full Story»

Euro Rises After ECB Minutes (07 hr(s), 52 min(s), 26 sec(s) ago)
(RTTNews) - The European Central Bank has published the account of the monetary policy meeting of ...Full Story»

Euro Mixed Ahead Of ECB Minutes (07 hr(s), 58 min(s), 26 sec(s) ago)
(RTTNews) - At 7.30 am ET Thursday, the European Central Bank publishes the account of the monetar ...Full Story»

Japanese Yen Exhibits Weakness Against Most Majors (12 hr(s), 01 min(s), 26 sec(s) ago)
(RTTNews) - The Japanese yen slipped against its most major counterparts in the Asian session on T ...Full Story»

U.S. Dollar Moves Higher Following Slew Of Data (58 min(s), 34 sec(s) ago)
(RTTNews) - With traders reacting to a slew of U.S. economic data, the U.S. dollar has moved highe ...Full Story»

Dollar Little Changed After U.S. GDP Data (06 hr(s), 52 min(s), 25 sec(s) ago)
(RTTNews) - U.S. durable goods orders for October, GDP data for the third quarter and weekly joble ...Full Story»

Search

FOREX NEWS

Pound Depreciates On New Covid-19 Variant Concerns

11/26/2021 - 08:19 AM (RTTNews)
(RTTNews) - The pound fell against its most major counterparts in the European session on Friday, ...Full Story>>

Australian, NZ Dollars Fall; Yen Climbs As New Variant Sparks Risk Aversion

11/26/2021 - 02:58 AM (RTTNews)
(RTTNews) - The Australian and NZ dollars weakened against their major counterparts in the Asian s ...Full Story>>

Euro Higher After ECB Minutes

11/25/2021 - 10:02 AM (RTTNews)
(RTTNews) - The euro was higher against its most major counterparts in the European session on Thu ...Full Story>>

Euro Rises After ECB Minutes

11/25/2021 - 07:34 AM (RTTNews)
(RTTNews) - The European Central Bank has published the account of the monetary policy meeting of ...Full Story>>

Euro Mixed Ahead Of ECB Minutes

11/25/2021 - 07:28 AM (RTTNews)
(RTTNews) - At 7.30 am ET Thursday, the European Central Bank publishes the account of the monetar ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.