Forex Today: Dollar capitalizes on rising US yields ahead of mid-tier data By eren_fxstreet Currencies Majors Macroeconomics Commodities CryptoCurrencies
With the benchmark 10-year US Treasury bond yield rising above 3% on Monday, the greenback gathered strength against its rivals at the start of the week. The US Dollar Index extended its rebound early Tuesday and climbed to its highest level in two weeks. Sentix Investor Confidence report from the euro area will be looked upon for fresh impetus during the first half of the day.
During the Asian trading hours on Tuesday, the Reserve Bank of Australia announced that it hiked its policy rate by 50 basis points to 0.85% following its policy meeting. Commenting on the policy decision, RBA Governor Phillip Lowe noted that inflation in Australia has increased significantly. "The board expects to take further steps in the process of normalising monetary conditions in Australia over the months ahead," Lowe added.spiked to a daily high of 0.
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