Dollar Trades Near 2-Week Low As Fed Maintained Loose Monetary Policy

Dollar Trades Near 2-Week Low As Fed Maintained Loose Monetary Policy

08 Apr 2021 07:24 AM
 

The USDINR NDF is currently trading at 74.40/46.

Dollar traded at 92.425, near its almost 2-week low and fell as low as 92.134 yesterday, tracking US Treasury yields after the FOMC’s meeting minutes offered no new cues.

Fed officials stayed wary about the coronavirus, despite the US economy recovering faster than expected due to the fiscal stimulus. The officials stood on their decision to keep their monetary policy loose till a secure recovery.

The benchmark 10-year Treasury yield was at 1.67% after falling below 1.63% yesterday.

Yen was trading little changed at 109.78 yen after reaching a 1-year high of 110.97 a week ago. The euro consolidated around $1.1865 after bouncing back from an almost 5-month low of $1.1704 touched a week ago.

Australian S&P/ASX 200 futures rose 0.52%, while Japan's Nikkei 225 futures added 0.03%. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index, rose 0.62 % to 14,936.50.

U.S. crude was up 0.74% at $59.77 per barrel, while Brent gained 0.67% to $63.16 per barrel.