Reported 4 months ago
The article discusses how the U.S. dollar traded around a two-week high as U.S. bond yields surged, boosting the currency's appeal. The rise in yields was driven by stronger-than-expected data, tough statements from Federal Reserve officials, and poorly received bond auctions. The euro dropped as U.S. yields rose, hitting a two-week low before rebounding slightly. The yen also saw movement against the dollar, with traders cautious about reaching a critical intervention level. Expectations for Federal Reserve interest rate cuts have been reduced amid signs of persistent inflation. Revised U.S. GDP figures and key inflation data releases are expected to impact the market further.
Source: YAHOO