US Dollar regathers strength on rising US Treasury bond yields – by eren_fxstreet DollarIndex UnitedStates Bonds Macroeconomics
f high-impact macroeconomic data releases from the United States , rising US Treasury bond yields seem to be helping the USD outperform its major rivals. Furthermore, the USD, as a safe-haven asset, further benefits from the souring market mood.
St. Louis Federal Reserve President James Bullard told Reuters on Tuesday that interest rates will need to continue to rise in the absence of clear progress on inflation. Bullard further noted that he is still seeing the "adequately restrictive policy rate" at 5.50%-5.75% range and added that is biased to hold rates there for longer until inflation is contained.
Previewing the Fed’s publication, “since the March 21-22 meeting, the data suggest that activity is slowing, the labor market is softening, and price pressures are easing,” said analysts at BBH. “Notably, supply chains continue to improve. We believe the Beige Book will highlight these trends that support a pause after what is widely expected to be another 25 bps hike whilst leaving the door open for further tightening if needed.
The one-year consumer inflation expectation component of the UoM’s survey climbed to 4.6% from 3.6% in March, providing a boost to the USD.
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