Dollar retreats alongside yields as focus shifts to Powell hearing 🔔Here is what you need to know to trade today: FX Forex Trading
With the benchmark 10-year US Treasury bond yield erasing its daily gains after failing to break above 1.8% on Monday, thelost its traction in the second half of the day. Major currency pairs trade in familiar ranges early Tuesday as investors remain on the sidelines as FOMC Chairman Jerome Powell heads to Senate for his nomination hearing.
Meanwhile, Wall Street's main indexes closed little changed on Monday and the US stock index futures trade flat early Tuesday.closed in the negative territory on Monday but managed to hold above 1.1300. The pair was last seen posting small daily gains slightly below 1.1350. European Central Bank Presidentfell to a daily low of 1.3532 but erased the majority of its daily losses before closing at 1.3575 on Monday. The pair is inching closer to 1.3600 in the early European session.