Dollar nears multi-week lows ahead of Fed policy meeting

27.04.2021 - Davydova Maria
Dollar nears multi-week lows ahead of Fed policy meeting

The dollar lingered near multi-week lows against major peers on Tuesday, weighed by lower Treasury yields as traders consolidated positions ahead of the Fed policy meeting this week.

The safe-haven dollar fell after world stocks began the week with record highs amid rising investor confidence in a fast global pandemic recovery.

The dollar index steadied at 90.859 in early Asian trade, following a low of 90.679 hit overnight. The dollar rose 0.1% to 108.18 against the yen, continuing its recovery from a seven-week low of 107.48 hit on Friday.

The dollar dropped almost 3% since late March as U.S. Treasury yields traded in narrow ranges after dropping from a 14-month high of 1.7760%. 

The 10-year U.S. Treasury yield traded around 1.58% on Tuesday. It tracked sideways since dropping to a one-month low of 1.528%. 

The euro fell 0.1% to $1.2078, while the risk-sensitive Aussie lost 0.1% to $0.7791. In offshore trade, the yuan slid 0.1%, following a seven-week high of $6.4710 hit on Monday.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?