US Dollar Continues to Slide, As the Economy is “Ready to Rip”

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Fed Governor Christopher Waller said Friday that the US economy “is ready to rip” as vaccinations continue and activity picks up, but a rise in inflation is likely to be transitory, echoing comments from other Fed officials including Chairman Powell over the past wk.

The USD is pinned near 1-month lows to major peers in Asia Monday, with US Treasury yields near the lowest in 5 wks, after the Fed reiterated its dovish view that any spike in inflation was likely to be temporary.

The safe-haven greenback was also held down by improved risk sentiment amid a rally in global stocks to record highs.

Bitcoin saw colocalization Sunday, when it fell 14% to 51,541. It bounced and last traded around 57,020.

.DXY, which tracks the currency against 6 peers, was at 91.623, not far from the low of 91.484 marked last wk, a mark not seen since 18 March.

The Buck bought 108.655 JPY, near the lowest since 24 March.

EUR changed hands at $1.1958, near the highest since 4 March.

Benchmark 10-year Treasury yields could fall to as low as 1.47%, from around 1.57% currently.

Have a healthy week, Keep the Faith!

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