The US Dollar Index (DXY) attempts to snap the two-day losing streak, trading slightly higher around 106.40 during the early Asian trading hours on Fr
US Dollar Index holds ground ahead of US Nonfarm Payrolls. Improved US Treasury yields could provide support for the Greenback. US unemployment data showed a tight labor market; awaiting NFP and earnings data for confirmation. iday. The DXY corrected from an 11-month high due to a decline in the US Treasury yields. However, the previous week’s initial claims for unemployment benefits in the United States showed a downtrend, which indicated improvement in the labor market.
Upbeat numbers could trigger the US Dollar and increase volatility in the bond market. Additionally, the US Treasury yields hold steady to remain positioned near multi-year highs, as the market exercises caution regarding the hawkish stance of the US Federal Reserve on interest rates trajectory. The 10-year US Treasury yield holds above 4.70%, close to the highest level since 2007. Dollar Index Spot Overview Today last price 106.4 Today Daily Change 0.06 Today Daily Change % 0.
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