Dollar, Treasury Yields Edge Higher Ahead of PCE Data
Dow Jones
4 hours ago
1034 GMT - The dollar and U.S. Treasury yields rise slightly in midmorning European trade, awaiting July's release of PCE data, the Federal Reserve's preferred gauge of inflation, at 1230 GMT. "With the Federal Reserve moving away from providing forward guidance on its monetary policy, new data could play a more significant role in shaping interest-rate expectations, and any surprises could lead to increased volatility in the bond and currency markets," TenTrade's Wilfred Obasi says in a note. The DXY dollar index rises 0.1% to 99.018. The 10-year Treasury yield is up 0.4 basis points at 4.643%, according to Tradeweb. Attention will remain on the Treasury's increased long-dated debt buybacks and their impact on sentiment and yields, Obasi says.
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