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| Commodity News |
| HeadLine : |
Dollar Rides Steeper Yield Curve as 10Y Jumps Above 2.9% |
| Date : |
Apr 20 2018 |
The dollar remained close to highs against a basket of major currencies as surging bond yields offset earlier weakness in the greenback. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.25% to 89.57, after hitting a session high of 89.63. The U.S. Department of Labor reported Thursday that initial jobless claims fell by 1,000 to a seasonally adjusted 232,000 for the week ended April 13, missing economists’ forecast for a drop to 230,000. Investors’ outlook on inflation was also bolstered by the Federal Reserve’s Beige Book report released Wednesday, suggesting that consumer inflation could be set on a path higher as rising input costs were expected to be passed onto consumers.
Source: Investing.com
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