Dollar advances on higher yields to start the session

The greenback climbs to the highs for the day now


The relief in Treasuries this week is starting to dissipate, as 10-year yields are now up over 4 bps on the day to 1.579%. The low yesterday was seen at 1.475%.

The dollar is picking up some bids across the board now as it rises to the highs against the major currencies bloc. EUR/USD is seen down to 1.1955 and threatening a fall back below its 200-hour moving average @ 1.1960:

EUR/USD H1 12-03

The push higher yesterday stalled at the 38.2 retracement level of the recent swing move lower and now sellers are starting to seize back some near-term control on the day.

Elsewhere, GBP/USD is down to a low of 1.3960 and AUD/USD has fallen back to 0.7765.

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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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