USD is Weak, Traders Betting it Will Get Weaker

#FX #currencies


Speculation that growing price pressure would erode the dollar's value kept the US currency near a 2.5-month low. 

By early Tuesday, the .DXY, which measures the Buck against 6 peer currencies, had pared losses to stand at 90.333.

The sluggish USD helped GBP rally to $1.412, the highest since 25 February, despite Scotland's leader saying another referendum on independence was inevitable after her party's resounding election victory.

Rising inflation expectations lifted longer-dated US Treasury yields. The yield on benchmark 10-year T-Notes rose to 1.5914% after diving to a 2-month low of 1.469% Friday.

Gold was slightly lower. Spot gold was traded at 1834.36oz

Have a healthy day, Keep the Faith!