Central Banks Forex Market Intelligence News

Dollar gains on higher bond yields to start the session

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As we get into European trading today, the dollar is picking up some steam now as it pushes to fresh highs for the day. EUR/USD is now down 0.3% to 0.9783 from around 0.9820 earlier in the day and is looking poised to try and take a run at key trendline support around 0.9760 on the daily chart:

The push higher in the dollar comes alongside a nudge higher in bond yields, with 10-year Treasury yields up over 5 bps on the day to 4.155% at the moment. It’s all about the post-Fed momentum after Powell delivered a more hawkish message yesterday.

Elsewhere, GBP/USD is also down 0.4% to 1.1347 while AUD/USD is down 0.4% to 0.6321 at the moment.