<\/p>\n\n\n\n
The U.S. dollar maintained its strength on Thursday, following a recent surge to a two-week high fueled by a rout in U.S. Treasuries, which pushed up yields and increased the currency’s attractiveness.<\/p>\n\n\n\n
The dollar index, which tracks the greenback against a basket of major currencies, reached 105.18 overnight, its highest point since May 14th. It experienced a slight pullback to 105.05 in early European trading.<\/p>\n\n\n\n
The surge in long-term Treasury yields, driven by stronger-than-expected economic data, hawkish remarks from Federal Reserve officials, and poorly received bond auctions, has boosted the dollar’s appeal.<\/p>\n\n\n\n
The euro weakened as U.S. yields climbed, falling 0.5% on Wednesday to touch a two-week low of $1.0789 overnight before partially recovering to $1.0806. Analysts noted the euro’s low volatility and highlighted the need for significant new information to break it out of its recent range.<\/p>\n\n\n\n
The yen experienced the most notable movement on Thursday morning, with the dollar losing 0.4% against the Japanese currency, trading at 157.08. This followed a one-month high of 157.72 reached the previous day. Market watchers speculate that traders are nervous about approaching the 158 level due to the potential for intervention by Japanese authorities.<\/p>\n\n\n\n
Sterling, which reached a more-than-one-month high earlier this week, also fell 0.5% on Wednesday and remained relatively unchanged at $1.2704.<\/p>\n\n\n\n
Expectations for Federal Reserve interest rate cuts this year have been tempered by signs of persistent inflation, including a surprising uptick in consumer sentiment revealed in recent data.<\/p>\n\n\n\n
Traders now see a 56.6% probability of a quarter-point cut by the end of the September meeting, slightly lower than the 57.5% odds observed a week ago.<\/p>\n\n\n\n
Revised U.S. GDP figures are due later today, followed by the much-anticipated release of the Personal Consumption Expenditures price index, the Fed’s preferred inflation measure, on Friday. Additionally, price data for the eurozone is expected on Friday, following a stronger-than-expected April inflation reading for Germany on Wednesday.<\/p>\n","protected":false},"excerpt":{"rendered":"
The U.S. dollar maintained its strength on Thursday, following a recent surge to a two-week high fueled by a rout in U.S. Treasuries, which pushed up yields and increased the currency’s attractiveness. The dollar index, which tracks the greenback against a basket of major currencies, reached 105.18 overnight, its highest point since May 14th. It …<\/p>\n","protected":false},"author":9,"featured_media":53116,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[7837,6934,7009],"class_list":["post-101865","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-beige-book","tag-dxy","tag-housing"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/101865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=101865"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/101865\/revisions"}],"predecessor-version":[{"id":101866,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/101865\/revisions\/101866"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/53116"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=101865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=101865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=101865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}