Audio By Carbonatix
Japan's yen weakened briefly on Monday to the 150-per-dollar level, as elevated U.S. Treasury yields kept the dollar supported across the board but without pushing it too much higher.
Investors are waiting for several events this week, including the European Central Bank meeting, and the release of U.S. GDP data and the Federal Reserve's preferred inflation gauge.
Besides that, the risk of Israel's war on the Islamist group Hamas becoming a wider regional conflict is keeping markets on edge, as Israeli air strikes battered Gaza early on Monday, and the United States dispatched more military assets to the region.
U.S. Treasuries are also at the forefront of investors' minds, with 10-year yields around 4.982%, having briefly popped above 5% last week after Federal Reserve Chair Jerome Powell said the U.S. economy's strength and hot labour markets might warrant tighter financial conditions.
The dollar index firmed a fraction to 106.23, with the euro down 0.1% at $1.0586, and sterling flat at $1.21620.
Even though it hasn't risen lockstep with yields, the dollar has been underpinned by the steady rise in yields at the long end of the U.S. Treasuries curve, driven by widening term premiums on expectations of stronger growth and fiscal slippage.
Latest Stories
-
Ghana at the threshold of a new financial era: What non-interest banking could mean for the economy
13 seconds -
NHIA begins 50% NHIS tariff increase, introduces digital claims verification
1 minute -
NHIA launches ‘80 Campaign’ to increase active NHIS membership to 80%
2 minutes -
Kojo Antwi presents memoir to Otumfuo, promises to launch next album at Manhyia
5 minutes -
Abdul Hayi Moomen Writes: You cannot betray the prophet by betraying his example
10 minutes -
Three men will be executed on the same day as death penalties rise in US
16 minutes -
The vulture of silence – Kurom Ayɛ Dinn – Occasional Kwatriot Kwesi Yankah writes
19 minutes -
South Korea’s Incheon airport beats Heathrow to become world’s busiest
21 minutes -
Is Agenda 111 being privatised? RTI request seeks details of ‘secret deals’ with private entities
28 minutes -
AGI raises alarm over 40% electricity tariff hikes facing businesses
28 minutes -
Tipper drivers’ indiscipline becoming a danger to road users – Association
29 minutes -
Evelyn Naa-Otua Addo
31 minutes -
NMC warns political parties against foreign information manipulation and interference
33 minutes -
GNFS yet to determine cause of Ofankor crash that killed 11
35 minutes -
Energy Minister John Jinapor urges GNPC to increase investment and oil sector value
37 minutes