The US dollar showed slight recovery but stayed close to recent lows as traders awaited new economic data. Expectations for more aggressive easing by the Federal Reserve this year could weigh down the dollar. US Treasury yields continued to decline, with the 10-year note around 4.21%. Markets are anticipating a near certainty for a September cut, potentially followed by two more cuts this year. Traders are particularly focused on jobless claims and the producer price index, as these indicators could influence both labor market strength and inflation expectations.
The US dollar rebounded slightly but remained close to its recent low, potentially remaining stable ahead of new economic data releases.
Bets of more aggressive Federal Reserve easing this year have been increasing, which could leave the dollar under pressure.
US Treasury yields extended their decline, with the 10-year note hovering near 4.21% as dovish expectations continued to push yields to the downside.
Markets anticipate a near certainty for a cut in September, and two more cuts before the end of the year, which could help maintain the downtrend in yields.
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