Dollar weakens once morest major currencies This is in line with the slowdown in US Treasury yields today.
The dollar was also pressured by comments by the Atlanta and Chicago Fed presidents who suggested the Fed would raise interest rates gradually to avoid a negative impact on the US economy.
As of 11:16 p.m. PST, the dollar was down 0.86% to 127.79 yen, while the euro was down 0.23% to 138.70 yen and rebounded 0.62% to $1.085. The index measures the dollar’s movements once morest the six major currencies in the money basket, minus 0.64% to 100.31.
The yield on the 10-year US government bond dropped today. After surging yesterday to 2.94 percent, the highest level since late 2018 amid expectations the Fed will speed up interest rates to curb inflation.
The 10-year U.S. Treasury Bond is the benchmark for determining the price of bonds around the world. This includes mortgage loan interest rates. If bond yields rise will make companies face higher costs from debt settlement This will result in these companies reducing their investment. and reduce dividend payments to investors
The financial market is expected to The Fed will raise interest rates by 0.50% at its meetings in May and June.
If the Fed raises interest rates at its May meeting as expected. It will be the first time the Fed has raised interest rates by 0.50% since 2000.
Investors will be keeping an eye on the Fed’s Beige Book, which will be released today. which will indicate the US economy and the direction of the Fed interest rate
