Dollar gains on higher bond yields to start the session


As we get into European trading today, the dollar is picking up some steam now as it pushes to fresh highs for the day. EUR/USD is now down 0.3% to 0.9783 from around 0.9820 earlier in the day and is looking poised to try and take a run at key trendline support around 0.9760 on the daily chart:

The push higher in the dollar comes alongside a nudge higher in bond yields, with 10-year Treasury yields up over 5 bps on the day to 4.155% at the moment. It’s all about the post-Fed momentum after Powell delivered a more hawkish message yesterday.

Elsewhere, GBP/USD is also down 0.4% to 1.1347 while AUD/USD is down 0.4% to 0.6321 at the moment.



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