Greenback dips as treasury yields retreat

NEW YORK – The US dollar fell broadly against major rivals in late trading yesterday amid weakness in government-bond yields.

The dollar index, which measures the greenback against six major peers, decreased 1.5% to 110.0690.

In late New York trading, the euro rose to US$1 (RM4.50) from US$0.9821 in the previous session, and the British pound increased to US$1.1479 from US$1.1313 in the previous session. The Australian dollar decreased to US$0.6498 from US$0.6517.

The US dollar bought 143.93 Japanese yen (RM4.51), lower than 144.72 Japanese yen of the previous session.

The US dollar decreased to 0.9787 Swiss francs (RM4.51) from 0.9930 Swiss francs, and it decreased to 1.3510 Canadian dollars (RM4.59) from 1.3635 Canadian dollars.

The above moves came as US Treasury yields slipped. The yield on the benchmark US 10-year Treasury fell to around 3.62% yesterday afternoon, after briefly topping 4% last week for the first time in more than a decade. The 30-year Treasury yield also declined. A rising yield is dollar bullish, while a falling yield is dollar bearish. – Bernama, October 5, 2022