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Sunday, June 20, 2021
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USD is Weak, Traders Betting it Will Get Weaker

#FX #currencies

$USD $GBP $EUR $JPY $ADU $CAD $XAU

Speculation that growing price pressure would erode the dollar's value kept the US currency near a 2.5-month low. 

By early Tuesday, the .DXY, which measures the Buck against 6 peer currencies, had pared losses to stand at 90.333.

The sluggish USD helped GBP rally to $1.412, the highest since 25 February, despite Scotland's leader saying another referendum on independence was inevitable after her party's resounding election victory.

Rising inflation expectations lifted longer-dated US Treasury yields. The yield on benchmark 10-year T-Notes rose to 1.5914% after diving to a 2-month low of 1.469% Friday.

Gold was slightly lower. Spot gold was traded at 1834.36oz

Have a healthy day, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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