Japanese Yen’s Weakness: The Japanese yen weakened briefly to the 150-per-dollar level due to elevated U.S. This has led to a dip in oil prices, which could potentially impact the USD. Middle East Conflict: The ongoing conflict in the Middle East has led to market volatility. This statement has led to a rise in yields and has contributed to the strengthening of the USD. economy’s strength and hot labor market might warrant tighter financial conditions. It has risen 160 basis points since mid-May.įederal Reserve’s Hawkish Stance: The Federal Reserve Chair Jerome Powell indicated last week that the U.S. It was briefly bid at a 16-year high of 5.001% on Thursday. The 10-year yield touched 5.004% on Monday, up around 8 basis points (bps) on the day. This increase has been driven by investors pricing in stronger U.S. Treasury note rose above 5.0%, hitting a milestone last seen in July 2007. As of October 23, 2023, several key events and factors are impacting the price of the US dollar (USD):Įlevated US Treasury Yields: The yield on the benchmark 10-year U.S.
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