Get 40% Off
💰 Warren Buffett reveals a $6.72 billion stake in ChubbCopy Portfolios

FOREX-Dollar dips before inflation data, Treasury supply

Published 12/04/2021, 15:23
Updated 12/04/2021, 15:24
© Reuters.
USD/JPY
-
USD/SEK
-
DX
-

* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E

(Adds quote, context, updates prices; changes dateline,
previous LONDON, byline)
By Karen Brettell
NEW YORK, April 12 (Reuters) - The dollar dipped slightly on
Monday as traders awaited highly anticipated U.S. inflation and
retail sales data in coming days, and as Treasury yields held
below recent highs before new supply.
The dollar's performance has been tied to U.S. Treasury
yields for most of 2021, after concern about rising inflation in
the United States and a stimulus-fuelled economic rebound
triggered a jump in Treasury yields.
A fall in U.S. yields last week triggered the worst week for
the dollar in 2021. Yields edged higher on Monday before the
Treasury will sell $120 billion in new coupon-bearing supply
this week, though they are holding below one-year highs reached
last month. US/
U.S. consumer price data for March due on Tuesday is the
next major economic focus. Investors are betting that price
pressures will increase due to increased fiscal and monetary
stimulus and as businesses reopen from COVID-19 related
closures.
Comparisons with last year are also likely to be strong, due
to a drop in inflation a year ago when businesses closed due to
COVID-19.
"With U.S. data expected to come in strong this week, we
believe the dollar's rise can continue," analysts at Brown
Brothers Harriman said in a report on Monday.
Retail sales data for March is also due on Thursday.
The dollar index =USD was last down 0.11% against a basket
of currencies at 92.108. It is holding above a three-week low of
91.995 reached on Thursday.
The euro EUR=EBS gained 0.06% to $1.1908.
Federal Reserve Chairman Jerome Powell said on Sunday that
the U.S. economy was at "an inflection point" and looked set for
a strong rebound in the coming months, but he also warned of
risks stemming from a hasty reopening. Bitcoin BTC=BTSP traded above $60,000, closing the gap to
its record high.
Sterling GBP=D3 rose 0.26% to $1.3744 as traders cheered
the latest phase of the British government's economic reopening
plan.
The dollar fell 0.18% to 109.43 yen JPY= versus the
Japanese currency.
U.S. dollar net short positions have fallen to their lowest
in nearly three years, according to data published on Friday.
ING analysts noted that speculators had cut their net short
dollar positions for the 12th consecutive week, which could
prove a headwind for further dollar gains.
"At this stage, the dollar has lost all its positioning
'advantage,' having a neutral speculative positioning, which
suggests we should no longer see dollar rallies against most G10
currencies exacerbated by the unwinding of USD shorts," they
wrote.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

========================================================
Currency bid prices at 10:08AM (1408 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Dollar index =USD 92.1080 92.2180 -0.11% 2.364% +92.3310 +92.0070
Euro/Dollar EUR=EBS $1.1908 $1.1901 +0.06% -2.54% +$1.1919 +$1.1872
Dollar/Yen JPY=D3 109.4250 109.6300 -0.18% +5.94% +109.7650 +109.2500
Euro/Yen EURJPY= 130.29 130.47 -0.14% +2.66% +130.6100 +129.9000
Dollar/Swiss CHF=EBS 0.9229 0.9246 -0.17% +4.33% +0.9268 +0.9228
Sterling/Dollar GBP=D3 $1.3744 $1.3706 +0.29% +0.61% +$1.3776 +$1.3670
Dollar/Canadian CAD=D3 1.2554 1.2525 +0.26% -1.39% +1.2567 +1.2528
Aussie/Dollar AUD=D3 $0.7620 $0.7618 +0.03% -0.94% +$0.7635 +$0.7596
Euro/Swiss EURCHF= 1.0990 1.1000 -0.09% +1.69% +1.1015 +1.0983
Euro/Sterling EURGBP= 0.8662 0.8679 -0.20% -3.08% +0.8695 +0.8641
NZ NZD=D3 $0.7030 $0.7030 +0.01% -2.09% +$0.7049 +$0.7014
Dollar/Dollar
Dollar/Norway NOK=D3 8.4780 8.4980 -0.17% -1.21% +8.5295 +8.4735
Euro/Norway EURNOK= 10.0955 10.1120 -0.16% -3.55% +10.1310 +10.0910
Dollar/Sweden SEK= 8.5658 8.5376 +0.41% +4.50% +8.5730 +8.5363
Euro/Sweden EURSEK= 10.1994 10.1582 +0.41% +1.22% +10.2065 +10.1630

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
World FX rates https://tmsnrt.rs/2RBWI5E
U.S. dollar index https://tmsnrt.rs/3d90u3v
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.