Forex- Dollar Falls; Sterling Rises as Brexit Talks Near End By Investing.com


The dollar fell on Thursday.

Investing.com – The U.S. dollar eased back from earlier highs on Thursday, as 10-year Treasury yields continued to climb.

The , which measures the greenback’s strength against a basket of six major currencies, fell 0.37% to 95.32 as of 11:08 AM ET (15:08 GMT).

The yield on the benchmark rose to levels not seen since 2011 after upbeat economic data and hawkish comments from Fed Chairman Jerome Powell bolstered expectations of an interest rate increase in December.

The yield was up 1.36% to 3.204% after jumping almost 4% in the previous session.

Fed Chairman Jerome Powell said Wednesday that the U.S. central bank may raise interest rates above an estimated “neutral” setting as the U.S. economy continues to grow.

“Interest rates are still accommodative, but we’re gradually moving to a place where they’ll be neutral,” neither holding back nor spurring economic growth, Powell said.

“We may go past neutral. But we’re a long way from neutral at this point, probably,” he added.

Data this week showed that private sector hiring increased at the fastest pace in seven months in September while weekly jobless claims numbers fell to an almost 49-year low.

Elsewhere the euro recovered due to the weaker dollar while sterling surged amid reports that the European Union and the UK are in the final Brexit negotiation stages.

increased 0.39% to 1.1522 and rose 0.70% to 1.3030.

The dollar slid lower against the yen, with down 0.69% to 113.74.

The Australian dollar was lower, with down 0.20% to 0.7090, while fell 0.21% to 0.6499 and rose 0.01% to 1.2870.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link



Leave a Reply

error: Content is protected !!