US dollar climbs higher with yields


US dollar at the highs of the day

The US dollar is catching a broad bid following the ECB press conference. I’m not sure I would connect the two events because there’s nothing particularly notable happening in the euro at the moment.

Yields are moving up at the long end in the US with 10s now at a session high of 1.53%. They had fallen as low as 1.47% a few hours ago. 30s are at 2.27% from a low of 2.21%. There’s a 30-year auction today.

The rise in the dollar has done little so far to dent equities but gold is now negative on the day and oil has carved out a double top at $65.60.

In short, there’s not a great reason for this move but keep an eye on yields.

EUR/USD:

US dollar at the highs of the day

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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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