The U.S. currency shows a modest gain this week

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Currency Concerns After Ukraine War, Pushed Yields Higher

The U.S. currency was relatively stable on Thursday as traders took a break from the recent series of positive economic news.

Besides, the Treasury market paused to digest a busy week of trading. A report from the Labor Department showed that wages grew at their fastest rate, suggesting that the labor market is strengthening. Meanwhile, this week’s rally in Treasury yields pushed up the yields on short-term government bonds. However, the 10-year Treasury yield, which moves in the opposite direction of price, appeared little changed at 2.95% on Thursday.

The greenback reversed its losses while the dollar went lower after the release of disappointing economic data. A 10-year TIPS auction showed weak foreign demand for the notes.

Against world currencies, the U.S. dollar seemed up 0.14%.

U.S. 10-year note yields appeared at 1.8326%.

Senior market analyst at Western Union, Joe Manimbo, said that yields are still at elevated levels. He added that the dollar keeps drawing support ahead of next week’s Fed meeting.

The central bank’s Federal Open Markets Committee (FOMC) plans to make its two-day monetary policy meeting on Tuesday.

Manimbo said currencies are waiting on central banks next week while sticking to the range. He added that market expectations have become too aggressive concerning hawkish Fed policy.

Overview of the current bid prices of the currency

Dollar index

95.7161 95.6000 +0.14% 0.055% +95.7401 +95.4170

Euro/Dollar

$1.1314 $1.1344 -0.27% -0.48% +$1.1369 +$1.1312

Dollar/Yen

114.1401 114.2100 -0.10% -0.81% +114.5400 +113.9800

Euro/Yen

129.13 129.68 -0.42% -0.91% +130.0800 +129.1300

Dollar/Swiss

0.9171 0.9157 +0.18% +0.56% +0.9175 +0.9141

Sterling/Dollar

$1.3615 $1.3614 +0.03% +0.69% +$1.3661 +$1.3599

Dollar/Canadian

1.2474 1.2516 -0.34% -1.33% +1.2516 +1.2454

Aussie/Dollar

$0.7241 $0.7211 +0.42% -0.39% +$0.7276 +$0.7207

Euro/Swiss

1.0373 1.0385 -0.14% +0.04% +1.0395 +1.0373

Euro/Sterling

0.8308 0.8332 -0.28% -1.10% +0.8338 +0.8306

NZ

Dollar/Dollar $0.6774 $0.6787 -0.19% -1.03% +$0.6806 +$0.6756

Dollar/Norway

8.7985 8.7746 +0.16% -0.24% +8.8075 +8.7465

Euro/Norway

9.9545 9.9580 -0.05% -0.58% +9.9881 +9.9214

Dollar/Sweden

9.1773 9.1118 +0.44% +1.77% +9.1784 +9.0878

Euro/Sweden

10.3811 10.3362 +0.44% +1.44% +10.3844 +10.3257

 

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