1 min to read
The dollar witnessed a momentary dip followed by a resilient recovery
in the dynamic landscape of U.S. Treasury bond yields.
“In the dynamic landscape of U.S. Treasury bond yields, the dollar witnessed a momentary dip followed by a resilient recovery in the London foreign exchange market analysis”
Within the London market, the dollar-yen pair initially encountered a strengthening of the yen, driven by heightened dollar selling and yen purchasing, reaching approximately 146.90 yen. However, it subsequently rallied to the 147.40 yen range. The prevalence of dollar selling was influenced by the dip in U.S. 10-year bond yields from about 4.195% in the Tokyo market to around 4.16%.
Following this, as U.S. bond yields rebounded, the dollar staged a resurgence. The robust performance of the Asian stock market, coupled with the resilience displayed by the European stock market despite an initial sell-off, contributed to a scenario of yen selling in a risk-averse environment. This bolstered the dollar-yen pair, nearing the 147.50 yen mark.
Euro-dollar, in an early session move against a weakened dollar, touched the 1.08 range but exercised caution as subsequent dollar buying brought it to around 1.0770 dollars.
Euro-yen, having initially risen to the 159 yen range in the Tokyo market, witnessed a decline during the Tokyo afternoon. The London market’s active participation intensified selling, resulting in a dip to around 158.30 yen. However, a rapid buying spree, triggered by the dollar-yen rebound, alleviated the downward trend, settling around 159.10 yen.
Pound-dollar engaged in range trading around 1.2600 dollars in the Tokyo afternoon to early London, later adjusting to 1.2580 dollars with the dollar’s ascent. Pound-yen, echoing Euro-yen, declined from the 185.80 yen range in the early Tokyo afternoon to approximately 185.10 yen due to yen buying in the early London market. Subsequently, a recovery ensued, resolving the initial decline.
Visit XM Official Website.
