Market Update: Dollar Continues to Drop as Treasury Yields Fall
Arslan Butt • 1 min read
Since the G20 summit, there has been a dramatic shift in the sentiment of investors, especially for the US dollar. There is a degree of ambiguity over precisely what has been agreed between the US and China, but the mood for conciliation has apparently improved.
Lately, the 10 year US Treasury yield has fallen away below 3% again, but with the shorter-dated yields holding up. Both factors are weighing on the US dollar.
At this very moment, DXY has dropped to $96.39 to test the double bottom support zone and there can be a bounce off in the dollar. While on the upper side, resistance prevails at $96.75.