Dollar looks for next catalyst
TOKYO (Reuters) – FX Signals .The dollar was largely steady on Monday as investors soaked up last week’s strong U.S. employment report and looked ahead to data on the U.S. services sector for affirmation of a solid economic rebound from the coronavirus shock.
The greenback posted its best quarter against major currencies in almost three years in January-March thanks to an improving U.S. economy and rising Treasury yields.
The U.S. currency is likely to build on those gains as investors look for ways to bet on a global economic recovery from the worst of the coronavirus pandemic, analysts said.
“I thought there would be a correction lower in the dollar, but that didn’t happen,” said Masafumi Yamamoto, chief currency strategist at Mizuho Securities.
“The dollar’s upward trend is very strong. In the new quarter perhaps the best thing for investors to do is to just follow this trend.” Forex Signals – Euro to US Dollar
The dollar was last quoted at 110.62 yen, not far from its strongest level in a year.
Dollar stronger amid higher U.S. yields
The dollar index against a basket of six major currencies was little changed at 93.015,
FOREX – U.S. Dollar Down Amid Improved
Dollar short positions in the currency market fell last week to the lowest since June last year, U.S. Commodity Futures Trading Commision data showed – another positive sign for the greenback. forex learning guides
Elsewhere, the Australian dollar edged up to $0.7613, while the New Zealand dollar bought $0.7027.
Dollar looks for next catalyst forex signals learning
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Dollar looks for next catalyst
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