US Treasury yields continue to tick higher, boosting the US dollar | Forexlive
It’s tough to find a reason to buy bonds today.
First, Fitch downgraded the US credit rating. Second, US ADP employment was much stronger than expected, highlighting a higher path for the Fed funds rate.
As a result, long-dated US yields are breaking to new highs for the year and pushing towards the October 2022 high.
US 30-year yields
That’s a positive dynamic for the US dollar, especially with risk aversion in equities. As a result, the US dollar is stretching to new highs with commodity currencies, the euro and pound all under pressure.