.jpg)
The US dollar is under moderate selling pressure across the board as the London trading week comes to a close.
The dollar benefited from safe-haven trading early in the week, but markets have calmed down, reducing some safe-haven flows. Meanwhile, the Treasury market has also been volatile, but yields appear to have settled into a lower range.
Treasury auctions were weak on Wednesday and Thursday, but that came after a dramatic move lower in interest rates. Supply was strong but contained and levels were low enough to give the market confidence that yields on 10-year Treasuries can stay at or below 4%.
Today, 10-year yields fell 6%, helping to pressure the US dollar, while the euro and the pound rose. Both remain down for the week and are likely to be affected by the overall risk trade.
This article was written on www.forexlive.com.
