DOLLAR INDEX HOVERS AROUND TWO-MONTH HIGH; US DATA IN FOCUS

Published on Jun 27, 2024 11:38

The US dollar is hovering around a two month high on Thursday morning in Asia tracking elevated treasury yields. US benchmark treasury yields climbed above 4.3% for the first time in two weeks and dollar index futures are currently hovering at 105.64, marginally down after a 0.4% spike yesterday. Amid much uncertainty about the interest-rate outlook, investors braced for the release of key U.S. inflation reading, due later this week for directional cues. Data on first quarter GDP, durable goods orders for the month of May, and jobless claims report are also due this week. Among the basket currencies, EURUSD and GBPUSD are trading higher by 0.14% on the day at $1.0737 and $1.2646 respectively.