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The dollar is under pressure from lower US yields and fears of recession

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rocky
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The dollar is under pressure from lower US yields and fears of recession

Post by rocky on Wed 05 Dec 2018, 6:33 am

The dollar is under pressure from lower US yields and fears of recession




The dollar rose on Wednesday, but remained under pressure as a shift in the yield curve on US Treasuries led to fears of a possible recession.
The dollar gained undisputed performance for months against the rest of the currencies, but this may not be sustained by growing concerns about slowing US growth.
The dollar index rose 0.1 percent to 97.103, cutting losses this week to 0.2 percent.
The index, which measures the strength of the greenback versus a basket of major currencies, fell 0.6 percent, reversing the 17-month high of 97.693 touched on November 17.
The euro fell 0.1 percent to $ 1.1328.
Analysts in Commerzbank said that in the absence of a resolution in the EU-Italy budget dispute or any positive developments in the euro, the European currency is likely to trade between $ 1.12 and $ 1.16.
The Australian dollar fell more than 0.7 percent against the US dollar on disappointing economic data, further reducing the chances of a rate hike.
The Australian dollar moved sharply from a four-month high of $ 0.7394 earlier this week.
The dollar was up 0.2 percent at 112.97 yen, offsetting some of the previous session's losses when it posted its biggest daily loss since July 20.


    Current date/time is Thu 13 Dec 2018, 6:55 pm