US dollar gives back gains as risk trade improves and yields retreat

News

The strong US dollar bid from earlier in New York trade has reversed.

The dollar managed to run some stops against the yen and pound but as yields cooled, so has the currency. At the same time, some dip buying in US equities helped to turn the mood. The S&P 500 fell to 4474 but is now up 11 points to 4511.

Cable has been particularly volatile after falling to the lowest since November 2020.

Articles You May Like

GBPUSD rally on Friday stalled at key swing area ceiling and sellers pushed lower today
Video: The real thing to watch with the new US government
USDCHF reaches its 200 hour MA and swing area target
UK Q3 final GDP +0.0% vs +0.1% q/q prelim
Sterling and Yen Underperform After BoE and BoJ

Leave a Reply

Your email address will not be published. Required fields are marked *