Dollar hovers near two-week lows amid lower U.S. yields

08.04.2021 - Davydova Maria
Dollar hovers near two-week lows amid lower U.S. yields

The dollar stood near more than two-week lows against its peers on Thursday after minutes from the Federal Reserve’s policy meeting showed no new signs of a shift in market direction.

The dollar index fell to 92.371 in Asian trade after sliding to as low as 92.134 on Wednesday, its lowest since March 23.

The index rallied to a near five-month high of 93.439 at the end of March as the U.S. economic recovery outpaced Europe.

The 10-year U.S. Treasury yield traded at 1.67% on Thursday after sliding 1.63% overnight. It hit a more than one-year high of 1.776% late last month.

Analysts say that the market’s direction is hard to tell, but many expect the dollar to decline. 

The dollar fell slightly to 109.66 against the yen, consolidating after dropping from a more than one-year top of 110.97. 

The euro steadied at $1.18715 after recovering from a near five-month low of $1.1704 hit on March 31.

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