The U.S. dollar came under pressure in the Asian session on Tuesday amid falling treasury yields, as investors awaited a decision from President Joe Biden regarding his choice for the top post at the Federal Reserve.

The benchmark yield on the 10-year note fell 1.49 percent. Yields move inversely to bond prices.

Treasuries gained following news that Fed Governor Lael Brainard was interviewed for the post at the White House last week.

Chairman Jerome Powell and Brainard are the most preferred candidates for the Fed leadership and Biden has said that he would make a decision in the coming days.

Brainard is perceived as more dovish and market participants hope that the Fed would be more slow in the tightening of policy following her potential appointment.

Investors focus on U.S. producer inflation, as well as speeches from central bank chiefs, including ECB President Lagarde, BoE President Bailey and Fed Chairman Powell due later in the day.

The greenback hit 5-day lows of 1.3582 against the pound and 1.1607 against the euro, down from its prior highs of 1.3548 and 1.1577, respectively. The next possible support for the greenback is seen around 1.37 against the pound and 1.18 against the euro

The greenback fell to a 5-day low of 1.2429 against the loonie and a fresh 4-week low of 112.73 against the yen, off its previous highs of 1.2459 and 113.29, respectively. The greenback is likely to find support around 1.23 against the loonie and 110.00 against the yen.

The greenback edged down to 0.7429 against the aussie and 0.7174 against the kiwi, after rising to 0.7390 and 0.7148, respectively in early trades. The greenback is seen facing support around 0.76 against the aussie and 0.74 against the kiwi.

The greenback declined to 0.9117 against the franc, reversing from an early high of 0.9140. The greenback may face support around the 0.90 region, if it falls again.

Looking ahead, German ZEW economic sentiment for November is due out in the European session.

European Central Bank President Christine Lagarde is due to deliver opening remarks at the ECB Forum on Banking Supervision at 8 am ET.

U.S. PPI for October is scheduled for release in the New York session.

Grafico Cross US Dollar vs CAD (FX:USDCAD)

Da Lug 2022 a Ago 2022 Clicca qui per i Grafici di US Dollar vs CAD
Grafico Cross US Dollar vs CAD (FX:USDCAD)

Da Ago 2021 a Ago 2022 Clicca qui per i Grafici di US Dollar vs CAD