Dollar Falls as Rate-Hike Prospects Dim; Treasury Yields Rise with Oil Prices
Dow Jones
Aug 14
0654 GMT - The dollar falls as recent U.S. data dampen the prospect of the Federal Reserve raising interest rates while Treasury yields rise as oil prices gain. Last week's weak labor market data combined with this week's subdued consumer and wholesale inflation data have prompted markets to trim U.S. rate-hike bets. Oil prices rise after the U.S. threatened to maintain a naval blockade of Iran indefinitely. Meanwhile, an auction of 30-year Treasurys on Thursday resulted in the highest yield since 2001, highlighting U.S. fiscal concerns. The DXY dollar index falls 0.1% to 99.854. The 30-year Treasury yield rises 1.7 basis points to 5.228% while the 10-year equivalent rises 1.8 basis points to 4.659%, Tradeweb data show.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.