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USD Rises To Session Highs


U.S. dollar catching a bid, still slightly lower on the day after gapping lower at the open. DXY last at session highs 90.352 vs session lows of 90.238.

  • T-Notes hit session lows, cash yields around 3bps higher across the curve. The rise in yields has been adduced as one of the main drivers of the US dollar's recent modest recovery.
  • A CNN piece suggested a $2tn COVID relief package could be tabled by U.S. President-elect Biden. Biden will present his plan on Thursday evening, with the article noting that the Biden team is taking a "shoot for the moon" approach with this package, though they added that the price tag could still change. Plan is said to include direct payments to American families and state and local funding.

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