The Dollar is Rising as Traders Support Inflation Data

The Dollar is Rising as Traders Support Inflation Data

London (Reuters) – Certain professional US will appear in the coming days. The dollar rose on Monday after traders’ estimates of Treasury revenues fell last week as traders waited for inflation and retail sales data.

Elsewhere, it was the quiet start of a data-rich week for the foreign exchange market.

The euro fell below 1.19 and the British pound fell to a two-month low. Some experts are concerned about blood clots around the Covid-19 vaccine from AstraZeneca (NASDAQ: AZDN). Vaccination program.

In February, the United States released a report on the economic recovery after rising inflation and stimulus measures. After a significant increase in government bond yields, dollar assets were tied to most of the 2021 treasury yields.

Last week’s decline in U.S. yields created a weak week for the dollar in 2021, but the currency remained stable on Monday.

Federal Reserve President Jerome Powell made the announcement in the United States on Sunday. In an interview with US media. He said the economy was “reflected” and warned of a “rapid recovery” in the coming months, but warned of a risk of a hasty recovery.

On Tuesday, US investors are waiting for March inflation data.

MUFG analysts said, “We will see the first evidence of the much-anticipated inflation rise in the coming months. It will start to deviate from the annual estimate.” That said.

The dollar’s assets “may be tied to a 10-year yield,” he said.

The 10-year Treasury yield is 1.6462% after falling to 1.6170% last week. It rose 1.7760% year-on-year on March 30.

The dollar index rose 0.1 percent to 92,275 against the basket and the euro fell 0.2 percent to 181.1875.

Bitcoin is trading above $ 60,000, reaching a record high.

The first dollar was earned before the pound sterling returned. The British currency rose 0.2 percent to 371.3734 after hitting a two-month low of 36 1.3669.

The dollar fell 0.2 percent to 109.41 yen against the Japanese currency.

Commonwealth Bank of Australia (OTC) strategist Kimberly Mandy said in a report that “the US dollar could have gold this week.”

“Strong U.S. economic data highlights the difference between a rapid US recovery and a stagnant recovery in other developed economies.”

The dollar may return to 110 yen, but the euro could rise again to a five-month low of 1.17, he said.