Dollar firm as yields rise ahead of Beige Book – BBH – by hareshmenghani DollarIndex Bonds Fed Currencies Banks
amid a further rise in the US Treasury bond yields ahead of the Fed Beige Book, due for release later during the US session this Wednesday.“DXY is trading higher just above 102 as rising U.S. yields lend some support. Break above 102.036 sets up a test of the April 10 high near 102.807.”
“Since the March 21-22 meeting, the data suggest that activity is slowing, the labor market is softening, and price pressures are easing. Notably, supply chains continue to improve. We believe the Beige Book will highlight these trends that could support a pause after what is widely expected to be another 25 bp hike. However, we believe it will also leave the door open for further tightening if needed.
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