TOKYO (Reuters) – The dollar crossed near three-month highs on Monday after the U.S. parliament passed an incentive bill on further sales in the bond market, while currencies of major commodity exports withdrew as wider risk exchange. lost momentum.
The dollar index stood at 92.073 against a basket of six major currencies, up 0.17% and close to the three-month high of 92.201 set on Friday.
The Senate overturned a $ 1.9 trillion COVID-19 relief plan, a day after a report by the U.S. U.S. smart jobs report peaked since November 2020.
“The dollar is in high demand as the United States is the most service-heavy economy in the world, and once the statement reopens, it will put the icing on the cake. , ”Said Stephen Innes, Axi’s chief global markets strategist.
While investors have stepped up bets on an earlier economic rebound this year, concerns of higher inflation have pushed bond yields despite promises from central banks including the Federal Reserve. US that monetary policy will remain loose.
The yield on the U.S. Treasury 10-year benchmark fell close to year-high highs on Monday, while U.S. Nasdaq futures fell around 1% and European stock index futures benefited while and the sale spread to other risk funds. [MKTS/GLOB]
Speculators cut their net short dollar positions in the latest week to $ 27.80 billion, the lowest short position since Dec. 15 and suggest that dollar bears are picking up on a bet against the green. [IMM/FX]
The dollar held nearly a one-month high against the British pound, which traded at $ 1.3819, and a three-month high against the euro, which stood at $ 1.1904.
Against the yen with a low yield, the greenback remained stable at 108.39 yen, after hitting a nine – month high of 108.645 on Friday.
“Pushing back from other central banks to their bond markets over the past week is more important than the Fed provided a reason to expand the dollar movement,” Innes said.
The Chinese Yuan fell to a level of less than two months, with the kick in the dollar and U.S. output prompting many investors to reconsider forecasts for the Yuan, which the market expected to be more bullish strong for the rest of this year. [CNY/]
The Australian dollar rose 0.2% to $ 0.7696, but was well off its session high of $ 0.77230. The New Zealand dollar was down about 0.1% after rising 0.4% earlier to $ 0.719. Antipodean currencies have been in high demand because of their links to global commodity trade.
The U.S. currency fell 0.38% against the Norwegian crown to 8.5283 and fell slightly to 1.2637 Canadian dollars as traders bought oil export currencies.
Some traders said Brent crude futures jumped above $ 70 per barrel for the first time in more than a year including bids for trading currencies at the start of Asian trading.
=================================================== ======
Cash offer prices at 0430 GMT
RIC Description Last US Close Pct Change YTD Pct High Bid Low Bid
Previous change
Session
Euro / Dollar $ 1.1904 $ 1.1908 -0.05% -2.59% +1.1932 +1.1899
Dollar / Yen 108.3950 108.2600 + 0.12% + 4.93% +108.4850 +108.3450
Euro / Yen 129.03 129.09 -0.05% + 1.66% +129.3900 +128.9800
Dollar / Switzerland 0.9318 0.9311 + 0.08% + 5.33% +0.9319 +0.9299
Sterling / Dollar 1.3821 1.3831 -0.09% + 1.15% +1.3864 +1.3810
Dollar / Canada 1.2654 1.2649 + 0.05% -0.62% +1.2663 +1.2624
Aussie / Dollar 0.7696 0.7680 + 0.21% + 0.05% +0.7722 +0.7686
NZ 0.7158 0.7165 -0.10% -0.32% +0.7190 +0.7152
Dollars / Dollars
All spots
Spotan Tokyo
Europe spots
Vulnerability
Tokyo Forex market information from BOJ
Reporting with Stanley White in Tokyo and Sagarika Jaisinghani in Bengaluru; edited by Richard Pullin