Pound fell and traded around 1.3830 as Dollar extended gains following Powell’s dovish comments leading to an upward rally in US yields.
The Fed Chair Jerome Powell stated that the rising US treasury yields were just transitory and no changes to the monetary policy are to be expected in the near-term. A sell-off in the bond markets was triggered following his comments, leading to an increase in Dollar.
However, the losses were capped as investors awaited for fresh cues ahead of US jobs data. Later in the day, NFP report and US employment rate figures are due out of the US and will be in focus as the numbers would determine Dollar’s direction.
13 Apr 2021 07:40 AM
Find out why is the Dollar trading near its 3-week low?
12 Apr 2021 06:35 PM
U.S. stock futures slipped today, signaling a muted opening for major indexes that stand at record highs ahead of a busy week of corporate earnings and economic data.
12 Apr 2021 04:31 PM
Indian equities fell the most in over a month as a rapid surging second wave of the coronavirus across the country acted as the key deterrent to market sentiment.
12 Apr 2021 04:21 PM
The Indian rupee dropped for the sixth consecutive session against the dollar, as a surge in coronavirus cases intensified fears of a delay in economic recovery.
12 Apr 2021 02:54 PM
Pound bounced back from 2 month lows and traded around 1.3750 amid timid US Treasury yields capping Dollar’s gains.
12 Apr 2021 02:46 PM
Check out how European markets are reacting today