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Dollar weakens as US Treasury yields rise, commodities and currencies fluctuate

EditorVenkatesh Jartarkar
Published 11/20/2023, 08:41 AM
© Reuters.
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The dollar showed signs of weakness today, with the USD/JPY pair falling from a high of 148.70 in Asia to a low of 148.10 in Europe, even as U.S. Treasury yields edged up nearly four basis points to 4.480%. This divergence occurred amidst a mixed performance in European equities and stable S&P futures, suggesting a neutral market sentiment.

Commodities experienced some volatility with gold prices slipping by 0.4% to $1,972.10 an ounce, while WTI crude oil climbed 1.5% to $77.05 per barrel. In the cryptocurrency space, Bitcoin saw a gain of two percent, closing at $37,160 amid these broader market movements.

The euro and British pound both made modest gains against the softer dollar, with EUR/USD reaching approximately 1.0930 and GBP/USD slightly higher at around 1.2470. The Antipodean currencies also benefited from the dollar's dip; AUD/USD rose to .6555, and NZD/USD strengthened to .6022, largely due to the appreciating Chinese yuan which provided support across the region’s currencies.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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