Forex Marketz Daily Forex News – Fully Markets Update
The U.S. Dollar firmed this morning during the Asian trade hours against its peers. The dollar fund support from improving investor confidence. Equities pushed higher and U.S. Treasury yields moved higher.
The U.S. dollar index (.DXY), which tracks the U.S. currency against a basket of six Forex trading partners, was up 0.2 percent from the previous day close. This brought to an end, a four day losing streak.
The index managed to recover thanks to a spike in Treasury yields. Yesterday, during the North American trade hours saw the benchmark 10 year surging five basis points to its highest level since March.
Yields rose as Wall Street gained ground overnight. There was investor anticipation of strong corporate earnings. Also, geopolitical worries eased as President Donald Trump’s signaled, through his favorite medium Twitter, that a military strike on Syria may not be imminent.
Dollar loses ground against the Japanese Yen
Looking at the USD/JPY Forex market, it fell down 0.1 percent. It was last trading at 107.245 yen. It was up more than 0.5 percent overnight. The U.S. currency has gained about 0.3 percent against the yen so far this week.
The EUR/USD Forex market was little changed at $1.2392. The euro had lost 0.3 percent the previous day. That had brought to an end a four day winning streak.
The euro currency has risen 0.4 percent so far this week. It found support from comments from European Central bank. Policy makers reinforced expectations towards monetary policy normalization was in the cards.
The AUD/USD Forex market was steady at $0.7757. The NZD/USD Forex market was a tad higher. The Kiwi was last trading at $0.7379.
