The US Dollar (USD) rallies on Friday as traders flee out of the Japanese Yen (JPY) and the Euro (EUR). The renewed strength in the Greenback comes as sovereign bond yields in some countries in the Eurozone, particularly France, are spiking on the
The US Dollar trades firmly in the green while the Japanese Yen and the Euro weaken. The BoJ said it is set to ease its bond-buying program, while European sovereign bond yields increase due to political uncertainty in France.. The US Dollar index trades above 105.50 and could head towards year-to-date highs. The US Dollar rallies on Friday as traders flee out of the Japanese Yen and the Euro .
With both currencies accounting for nearly 70% of the basket forming the US Dollar Index, when both weaken, the Greenback gains without doing anything. With still a few weeks to go before the French elections and the BoJ taking it very slowly, the Greenback could get some further support in the coming weeks. On the upside, no big changes to the levels traders need to watch out for. The first is 105.52 where the DXY is trading around at this moment, a level that held during most of April.
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