The Steady U.S. Bond Yields Drive Dollar to its Lowest
The Dollar dropped on Monday morning in Asia as the riskier currencies including the Australian dollar recovered the loss against U.S. Dollar as the result of the previous week’s aggressive selloff in global bonds.
After the Asian trade starts on Monday the U.S. currency, on the whole, began declining. The so evident global bond market’s situation where yield increased drastically over the raised hope of the economic recovery from COVID-19 provoked the sell-off during the past week.
The U.S. Dollar Index was inched down 0.04% to 90.843 versus a basket of other currencies.
The USD/JPY pair slightly down 0.08% to 106.50.
The AUD/USD pair was up 0.53% to 0.7745. The Reserve bank of
Australia will release its interest rate on Tuesday with the NZD/USD pair inclined 0.59% to 0.7269.
The USD/CNY pair slightly down 0.14% to 6.4638.
The GBP/USD pair was high 0.28% to 1.3971.
The Benchmark 10 year U.S. Treasuries yield presently trades at 1.41%.