Free Trial

USD Offered as Treasury Yields Narrow Gap With Pre-Vaccine Levels

FOREX

The greenback is solidly the poorest performer in G10 early Wednesday, with the USD index slipping to its lowest level since November 9th - the session in which Pfizer/BioNTech released the interim analysis of their COVID vaccine candidate. The USD index is closely tracking US Treasury yields - the 10y yield is has narrowed the gap with last Monday's low of 0.7964.

Overriding USD weakness pressuring USD/CNH to a new multi-year low, with most pinning the move on the signing of the Regional Comprehensive Economic Partnership between China and 14 other Asia-Pacific countries. USD/CNH touched 6.5321, the lowest level since mid-2018.

USD, EUR are weakest in G10, NZD, NOK the strongest.

US housing starts & building permits and Canadian CPI are the data highlights going forward. BoE's Bailey & Haldane, BoC's Wilkins and Fed's Williams, Bullard & Kaplan are the speaker highlights.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.