“We here at HeffX-LTN see the USD falling thought-out this year and next” — Paul Ebeling
USD is headed for its worst back-to-back weekly decliner this yr on the continuing retreat in Treasury yields from more-than-1-yr highs as investors are buying into the Fed’s insistence of continued monetary support.
The benchmark 10-yr T-Note yield dipped to a 1-month low of 1.528% Thursday from as high as 1.776% at the end of last month in the face of Thursday’s stronger-than-expected retail sales and employment data.
San Francisco Fed President Mary Daly said that the US economy is still far from making “substantial progress” toward the Fed’s goals of 2% inflation and full employment.
.DXY tracks the Greenback against 6 peers, dipped to a 1-month low of 91.487 Thursday before recovering flat at 91.678 early in the Asia-Pacific session Friday.
The Buck is set for a 0.6% decliner for the wk, extending the 0.9% slide from last wk.
Bitcoin stood around $63,478, near the record high of $64,895 marked Wednesday, when cryptocurrency platform Coinbase (NASDAQ:COIN) made its debut in a direct listing
Have a healthy day, Keep the Faith!