The USD rose against other major currencies on Monday, with a drop in US bond sales of 10-year yields peaked in four years, amid concerns that the Federal Reserve may raise interest rates faster as an attempt to counter rising wage pressure.<\/p>\n
However, analysts noted that further gains in the US dollar will be limited, as other economies seem ready to expand faster than the US economy. There is speculation that other central banks, along with the Fed, may roll back on stimulus programs, and are therefore likely to cap the recovery of the US currency.<\/p>\n
Early on Monday, the 10-year benchmark yield was 2.885%, its highest level since January 2014. The strong jobs report showed that wage growth last month posted its biggest annual gain since June 2009. The yield reached 2.843%, 1 point lower than last Friday.<\/p>\n
The USD was also supported by today’s supply management index in the US service industries, which hit its highest level in 12 months in January.<\/p>\n
The dollar rose by 0.3% against a basket of six major currencies, trading at 89.469 points, 0.6% higher than Friday. Currency futures data showed that the net bearish bets against the dollar had jumped to $17.5 billion last week.<\/p>\n
The EUR dropped 0.4% against the US Dollar, with the EUR\/USD pair trading at $1.2410, just below a three-year high of $1.2538. The euro fell briefly after the ECB President Mario Draghi’s upbeat comments in the European Parliament. However, Draghi also said that the current rise in the single currency could weaken expectations for price stability.<\/p>\n
The dollar fell against the yen by 0.05%, with the USD\/YEN pair trading at 110.03 yen per dollar, holding above its 4 month low reached earlier, on Jan. 26.<\/p>\n","protected":false},"excerpt":{"rendered":"
The USD rose against other major currencies on Monday, with a drop in US bond sales of 10-year yields peaked in four years, amid concerns that the Federal Reserve may raise interest rates faster as […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":356,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[49],"tags":[28,27,52,50,77,51,11,25,26,29,38],"_links":{"self":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/355"}],"collection":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/comments?post=355"}],"version-history":[{"count":1,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/355\/revisions"}],"predecessor-version":[{"id":357,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/355\/revisions\/357"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media\/356"}],"wp:attachment":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media?parent=355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/categories?post=355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/tags?post=355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}