Forex – Dollar Rally on Hold in Cautious Trade; Euro Steady

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Investing.com – A rally in the dollar paused on Wednesday, as U.S. Treasury yields held below their recent seven-year highs, but demand for the greenback continued to be underpinned by expectations for a potentially faster pace of rate hikes from the Federal Reserve.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was holding steady at 95.4 by 04:13 AM ET (08:13 AM GMT), holding below a seven-week high of 95.84 reached in the previous session.

The dollar paused as the yield on 10-year Treasury notes eased after touching fresh seven-and-a-half year highs on Tuesday.

The sell-off in Treasuries has been spurred by expectations that the Fed will continue to raise rates in December and beyond as the outlook for the economy remains strong.

Read more at : https://www.investing.com/news/forex-news/forex–dollar-rally-on-hold-in-cautious-trade-1638177

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