The US dollar index extends gains to highest levels since Nov 2020


  • The DXY has printed a fresh high in the Asian session. 
  • US dollar safe haven theme priced in as euro slides. 

At the time of writing, DXY is trading at92.6240 vs a high of 92.6730 from a low of 92.567, and is 0.10% bid on the data so far. 

The euro is under pressure which is helping to fuel the rally in the greenback due to the divergence in the US pandemic response to that of the EU's and the implications for the recoveries in each economy.

The safe-haven flows into the greenback have helped to elevate the currency despite a slide in US yields overnight.

''US bond markets rallied overnight, falling risk sentiment and a successful 5year treasury auction saw treasury yields rise in the long end,'' analysts at Westpac explained. 

''2-year treasury yields remain unchanged at 0.14%, 5-year yields fell to 0.81% and 10-year yields fell to 1.59% before bouncing back to 1.61% following Fed’s Williams’ comments on long term inflation. The 7year treasury auction tomorrow is the key focus for markets as the weak 7year auction sparked a sell-off last month.''

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Take advantage of market volatility with our daily Forex, Crypto and Indices Trade Ideas!

Become Premium!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD: Retreats towards 1.2000 on US dollar strength

EUR/USD remains pressured as the US dollar holds Friday’s gains amid a quiet session. The currency major pair fades the early Asian bounce off a one-week low as the US dollar extends Friday’s run-up. US PMIs for the last month, jitters surrounding Russia, China will also be the key.

EUR/USD News

GBP/USD: Licks its wounds above 1.3800 amid UK political jitters, Brexit woes

GBP/USD bounces off intraday low but fails to overcome the heaviest drop in two months flashed the previous day. UK PM Johnson will be pressured for the second Scottish Independence referendum if SNP wins the Holyrood elections on Thursday. 

GBP/USD News

Gold stays firmer on the way to $1777 hurdle

Gold consolidates the latest two-day downtrend amid a quiet Asian session on Monday. That said, the yellow metal picks up bids towards refreshing the intraday high around $1,774 while flashing 0.30% gains on a day by the press time.

Gold News

Ethereum price explodes to new all-time high of $3,000

Ethereum price has hit a new record level despite facing multiple market crashes over the last couple of weeks. This record level comes after ETH crashed twice in the past month. A continuation of this rally could propel the smart contract token to $4,295.

Read more

Will earnings season bring volatility to the stock market?

SP500 bulls are happy to see strong economic data and blowout earnings but will it be enough to attract increasing money-flow. The Commerce Department last week reported that the U.S. economy grew at a +6.4% annual rate in the first quarter.

Read more

Forex MAJORS

Cryptocurrencies

Signatures