Dollar picks up some steam as risk stutters on the day | Forexlive
The dollar is moving higher amid the backdrop of struggling equities and also as Treasury yields nudge higher. 10-year yields in the US are now at the highs for the day, up 2.3 bps, to 3.904% and that is keeping the greenback underpinned.
We’re seeing fresh highs now for the dollar all across the board and in my view, USD/JPY and AUD/USD are two big charts to watch. The former is up 0.5% to 135.43 – its highest levels in a little over two months:
Buyers have been huffing and puffing to try and find a breakthrough above 135.00 and they might get their just rewards today.
Meanwhile, AUD/USD is starting to see a stronger downside momentum build as it trades to its lowest levels in seven weeks. The series of technical support levels outlined here are all giving way at the moment as the pair drops by 0.7% to 0.6765: