Global economy concerns ease promoting dollar strengthening

Posted 02 April, 2019

The US dollar has gained grounds vs the majors at the Tuesday trading session. Concerns around the state of the global economy softened, which pushed the yield of the US state bonds up from the bottom. Meanwhile, the pound sterling has remained slack.

On Tuesday, the US Dollar index improved to some 97.21, which is near the multi-week peak (over 97.3) recorded earlier.

The euro-to-US dollar exchange rate decreased to $1.1198 ($1.1213 earlier).

At the same time, the US dollar mostly maintained positions vs the Japanese yen. The US dollar to yen rate was recorded at JPY 111.39 (111.46 earlier).
The yield of US 10Y state bonds rose to 2.495% after being at 2.34%, the lowest level practically over a year and a half. The bottom was hit just last week.

It should be mentioned that it was reported yesterday that the PMI in the US industrial sector hiked to 55.3 in March while the February figure was at 54.2 (the level above 50 shows positive dynamics of the sector).

The pound sterling was also weaker against the greenback at today's trading. The pound to US dollar rate dipped to some $1.3056. The British currency faced pressure from the Brexit issue. In particular, the UK Parliament rejected all four alternative Brexit agreements that were put before the MPs this Monday. Theresa May's proposals suggested a national referendum regarding any Brexit agreement and the variant under which the UK may remain in the European Economic Zone and agrees on the interim customs union.

The US dollar also got stronger vs its Australian counterpart reaching some $0.7075. 

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