By Mexgroup.com
Risk Aversion Has Ebbed Significantly Fueling a Comeback by The Dollar. The greenback closed another day in the green against most of its peers after a solid start for the week as North Korean tensions were absent from the headlines. Although dollar-negative factors are suddenly decreasing, some analysts attributed these gains to short-covering. The dollar index against a basket of six major currencies was flat at 91.882 after closing Tuesday a shade lower. It has managed to remain above the 2-1/2-year low of 91.011 plumbed on Friday.
Dollar Capped Vs Euro as German Yield Spike Neutralizes Support. German bund yields jumped nearly 7 basis points as safe-haven government debt came under pressure from a respite in North Korea tensions, helping prevent the dollar from gaining on the euro.
Sterling Hovers Near 1-year High After Robust UK Inflation Data. The pound extended its rally from the previous trading session, buoyed by upbeat CPI results and positive expectations for the BOE decision later this week. Sterling was little changed at $1.3286 following its ascent to $1.3300 overnight, its highest in a year.
Dollar Extends Rally Vs Yen, Hits 12-day High as US Yields Rise. The dollar extended its sharp rally against the yen on Wednesday as the pair shows the highest correlation to U.S. yields and is benefiting from the latest rise in yields. The dollar was up 0.1 percent at 110.270 yen and at its highest in almost two weeks.
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20:30 pm GMT: USD Producer Price Index
By MEX Group Team
The post Dollar Shines Against Yen as US Yields Rise, Pound Near 1-year High on Inflation Jump 13-9-2017 appeared first on mexgroupblog.
