Showing posts with the label The U.S. Dollar.
cnbc.com Dollar strengthens as U.S. yields spike Reuters 4-5 minutes A businessman is seen holding out a stack of U.S. banknotes. The U.S. dollar rose against most major currencies on Friday, lifted by an increase in U.S. bond yields overnight, while the pound dropped to its lowest in over a week. Government bonds, and particularly U.S. Treasuries, have become the focal point of markets globally. Traders have moved aggressively to price in earlier monetary tightening than the Federal Reserve and other central banks have signalled. European stocks extended a global equity sell-off, with risk appetite souring as the surge in yields fomented inflation worries. Emerging-market and commodity-linked currencies continued to retreat Thursday. Cryptocurrencies stabilised after tumbling overnight. The dollar move is "a function of what's happening on the yields side," said Jeremy Stretch, head
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cnbc.com Dollar held down by doubts over pace of U.S. recovery; bitcoin retreats from record high Reuters 2-3 minutes U.S. dollar banknotes. Liu Jie | Xinhua via Getty The dollar started the week pinned near two-week lows on Monday as traders questioned whether the recovery from the pandemic in the United States would be as fast as expected. Bitcoin remained volatile, retreating to as low as $45,914.75 a day after reaching a record $49,714.66. The world's most popular cryptocurrency had rallied 25% last week, driven by endorsements from Tesla and BNY Mellon. The dollar index slipped 0.1% to 90.336, close to last week's low of 90.249 — a level unseen since Jan. 27. The gauge hit a two-month top of 91.6 on Feb. 5 on hopes that a U.S. rebound would outpace other major economies, but has since pulled back amid disappointing employment data. "Now the market is looking for actual evidence that t