The unstoppable rise of the dollar continues this Tuesday, marking a new peak in 10 months. The trend is accentuated with the performance of the US Treasury bondswhich reach their highest level since October 2007.
Parallel, the yen weakenskeeping operators on alert for possible government interventions.
Neel Kashkaripresident of the Bank of the Federal Reserve of Minneapolis, expressed that, given the strength of the American economy, Interest rates should probably rise and stay “higher for longer”until inflation return to the 2% target.
Your comments prompted rising 10-year bond yieldsthe reference that marks the cost of debt throughout the world, raising them to 4.566%.
This increase in yields fstrengthened the position of the dollardriving the dollar index to 106.2 units, its level highest since late November 2022. Subsequently, this measure, which compares the performance of the dollar with a basket of six outstanding coins, It stabilized at 105.96 units.
In the midst of this scenario, the euro gains 0.1%reaching $1.0596, after hitting its lowest point since March, at $1.057.
“The dollar is like a steamroller, it is really extraordinary“said Joe Tuckey of Argentex, a financial brokerage. “There is evident exceptionalism in the United States, it is very difficult to argue. “We are seeing solid and consistent data.”.
This brief, but sharp rally in the dollar had a negative impact on the yenwhich at one point surpassed the barrier of 149 units for the first time since October 2022arriving at 149.19.
On the other hand, sterling suffersreaching its lowest level since mid-March, at $1.2168, and subsequently fell 0.19%, settling at $1.219.
Source: Ambito
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