The dollar is consolidating with the support of rising US bond yi

The dollar held firm on Thursday, supported by long-term US bond yields and investors' focus on US consumer price data released later in the day and may show higher inflation.
The dollar index, which tracks the performance of the greenback versus a basket of six major currencies, was little changed to settle at 93.06 after hitting a four-and-a-half-month high of 93.42, gaining 4.7 percent from the April low.
The euro hit a four-and-a-half-month high of $ 1.1823 on Wednesday after falling in six of the past seven sessions. The single European currency was traded at $ 1.1868.
The pound was up 0.1 percent at 1.3561, not far from the $ 1.3485 touched on Monday.
The New Zealand dollar lost as much as 1.1 percent to a five-month low of $ 0.6916 after the New Zealand central bank kept rates unchanged and said the next move in interest rates could be cut or raised.

Share this post