Dollar Drops As Treasury Yields Fall
04 Ottobre 2022 - 9:08AM
RTTF2
The U.S. dollar fell against its major counterparts in the
European session on Tuesday, as data showing a slowdown in U.S.
manufacturing activity tempered expectations for aggressive
monetary tightening by the Federal Reserve.
U.S. treasury yields dropped after weak data, with the benchmark
yield on the 10-year note touching 3.58 percent. Yields move
inversely to bond prices.
European shares rose sharply as soft ISM manufacturing data
raised hopes for slower Fed tightening.
Investors await U.S. non-farm payrolls report due later this
week to help determine the central bank's rate hike path in the
period ahead.
The greenback weakened to a 2-week low of 1.1429 against the
pound and near a 2-week low of 0.9896 against the euro, off its
early highs of 1.1280 and 0.9806, respectively. The greenback may
challenge support around 1.23 against the pound and 1.09 against
the euro.
The greenback edged down to 0.9867 against the franc, from a
high of 0.9942 set at 10 pm ET. On the downside, 0.93 is possibly
seen as its next support level.
The greenback slipped to an 8-day low of 1.3568 against the
loonie, near 2-week lows of 0.6547 against the aussie and 0.5758
against the kiwi, from its prior highs of 1.3653, 0.6451 and
0.5680, respectively. The greenback is seen finding support around
1.33 against the loonie, 0.70 against the aussie and 0.62 against
the kiwi.
The greenback pulled back to 144.53 against the yen, from a high
of 144.92 seen in the previous session. If the greenback falls
further, it is likely to test support around the 121.00 level.
U.S. factory orders for August will be featured in the New York
session.
Grafico Cross US Dollar vs CAD (FX:USDCAD)
Da Mar 2024 a Apr 2024
Grafico Cross US Dollar vs CAD (FX:USDCAD)
Da Apr 2023 a Apr 2024
