Dollar Edges Higher Growing Risk

FxPremiere.com – Daily Forex Signals – The dollar traded higher Wednesday, benefiting from higher Treasury yields, caution ahead of the European Central Bank’s policy meeting and concerns over global growth.

At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, gained 0.1% to 92.635, just off its highest level so far in September.

USD/JPY rose 0.2% to 110.44, EUR/USD fell 0.1% to 1.1833, GBP/USD dropped 0.2% to 1.3760, while the risk sensitive AUD/USD fell 0.2% to 0.7370, following the Reserve Bank of Australia’s decision on Tuesday to extend its bond-buying the program through February.

The benchmark 10-year Treasury note traded at 1.37% early Wednesday, just off Tuesday’s high of 1.39%, which was the highest level since mid-July, and a boost to the dollar.

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The weak report added to fears that the rise in Covid cases, with the United States having recorded roughly 650,000 deaths and last week exceeded 40 million cases, would stunt U.S. economic growth in the second half of the year. Influential investment bank Goldman Sachs (NYSE:GS) earlier this week cut its estimate for 2021 GDP growth in the U.S. to 5.7% from 6.2%. Dollar Edges Lower Brexit

“Financial markets could interpret such a step with a slightly hawkish tilt.” Dollar Edges Lower amid Fed Meeting

Dollar Edges Higher Growing Risk

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