Dollar stronger amid higher U.S. yields

FX SIGNALS TOKYO (Reuters) – The safe-haven U.S. dollar held firmer on Friday, supported by higher Treasury yields and falling stock markets, as investors digested the Federal Reserve’s pushback against expectations of any early interest-rate hikes.

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The yen dipped briefly after the Bank of Japan widened its target band for the benchmark yield in a decision that was in line with market expectations.

Forex Signals – Dollar Gains as Yields Rise

The Federal Open Market Committee (FOMC) pledged this week to press on with aggressive monetary stimulus, saying a near-term spike in inflation would prove temporary amid their projections for the strongest U.S economic growth in nearly 40 years.

“After some navel gazing,” bond investors “concluded that the Fed is not (posing) any challenges or discomfort for longer-dated UST yields to keep pushing higher,” National Australia Bank (OTC:NABZY)’s senior FX strategist Rodrigo Catril wrote in a client note.

Dollar Up Alongside Surge in U.S. Treasury Yields

The greenback was flat at 108.895 yen, adding to small gains overnight.

Dollar Up Holds Onto Biggest Gains

In the cryptocurrency market, bitcoin stood at around $57,800, as it seesawed after briefly topping $60,000 again overnight.

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Dollar gains put on hold

Dollar stronger amid higher U.S. yields

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Dollar stronger amid higher U.S. yields