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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The dollar is at high levels as treasury yields increase

    Rocky
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    • Post n°1

    The dollar is at high levels as treasury yields increase Empty The dollar is at high levels as treasury yields increase

    Post by Rocky Tue 22 Aug 2023, 4:32 am

    The dollar is at high levels as treasury yields increase
    [You must be registered and logged in to see this link.] |Today
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    Baghdad today - follow-up
    The dollar remained close to its highest level in 10 weeks against a basket of major currencies, and also close to its highest level since November against the yen, as Treasury yields rose to new highs for the post-financial crisis period on Tuesday amid speculation that US interest rates will remain high. longer.
    China's central bank supported the yuan by setting a much stronger-than-expected official daily midpoint for the currency. 
    The yuan was stable in early trade after coming under increasing pressure in the past weeks as investors lost patience with the slow response of Chinese monetary policy despite the slowing economy and the deterioration of the real estate sector.
    The dollar index, which measures the performance of the greenback against six developed market currencies such as the yen and the euro, fell 0.1 percent to 103.24, but remained not far from Friday's high of 103.68, not seen since June 12.
    "Rising US long-term yields and the disappointing response by Chinese policymakers to persistent pressures in Chinese real estate and financial markets continue to provide an upward push" for the US dollar, Westpac currency analyst Richard Franulovich wrote in a note.
    Regarding Federal Reserve Chairman (US Central Bank) Jerome Powell's upcoming speech on Friday at the annual symposium in Jackson Hole, Wyoming, Franulovich said, "If Powell keeps the door open to raising (interest rates)... a new front of bullish trend for the US dollar can be formed."
    Against the Japanese currency, the dollar fell 0.1% to 146.125 yen, after earlier rising to 146.425, bringing it close to Thursday's peak of 146.565, the highest since November 10.
    The price of the dollar against the yen tends to be very sensitive to changes in long-term US Treasury yields. The benchmark 10-year bond yield reached its highest level since November 2007 at 4.366 percent on Tuesday.
    The euro rose 0.1 percent to $1.09055.
    Meanwhile, China's central bank set the yuan's midpoint at 7.1992 per dollar on Tuesday, in an effort to put an end to the currency's slide after it fell to a 9-and-a-half-month low of 7.349 in offshore trading last week.
    The yuan witnessed little change in the latest offshore transactions and recorded 7.2872, after rising about 0.1 percent after the Chinese central bank's decision.
    The Australian dollar was little changed and recorded $0.6413.
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