Dollar slumps amid retreat in Treasury yields

The dollar falls to the lows for the day as Treasury yields ease lower

10-year Treasury yields are now down more than 3 bps to 1.485% and the retreat in yields is putting pressure on the dollar across the board.

USD/JPY has nearly pared gains for the day, easing to 108.45 from 108.70 earlier while EUR/USD has moved up to 1.1968 and nearing its 200-hour moving average:

EUR/USD H1 11-03

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The near-term level is seen at 1.1969 and a break above that will see buyers seize near-term control of the pair and start to look towards potentially testing 1.1990-00 next.

Elsewhere, AUD/USD is up to a high of 0.7780 while USD/CAD has also fallen to a low of 1.2588 as sellers start to eye last week’s low @ 1.2576-77 currently.

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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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