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.
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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