Dollar droops with US yields, stocks mixed amid rates, election risks

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Markets أخبار

US Dollar,MSCI,Nikkei

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TOKYO: The dollar was on the defensive on Friday following its biggest drop in a month against major peers, as it tracked a retreat in U.S. yields from nearly three-month highs after depressed Treasury prices drew buyers.

For the week though, the dollar was set for a fourth straight weekly rise and the 10-year Treasury yield for a sixth, driven by a run of robust U.S. economic data that signals a very patient approach to Federal Reserve interest rate cuts. A parade of potentially pivotal events begin next week with the monthly U.S. payrolls report on Friday. The U.S. presidential election follows on Nov. 5, with a Fed policy decision two days later.

In terms of economic data overnight though,"the narrative was a positive one and opened up the room for a touch of risk-taking," Rodda said. Weekly data showed an unexpected drop in new applications for U.S. unemployment aid overnight.

 

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