ForexLive European FX news wrap: Dollar mixed, yields hold higher still



  • AUD leads, JPY lags on the day
  • European equities higher; S&P 500 futures up 0.1%
  • US 10-year yields up 3.2 bps to 4.322%
  • Gold up 0.5% to $1,919.35
  • WTI crude up 0.5% to $90.63
  • Bitcoin down 0.3% to $26,502

It was a slower session overall as markets settle down in trying to get used to the new shift in the narrative among major central banks.

With the ECB signaling the end of rate hikes, it is now all about focusing on if central banks can stick with their perceived stance of higher rates for longer in the months ahead.

But that did not stop the move higher in bond yields though, as 10-year Treasury yields are up to above 4.32% and set for its highest weekly close since 2007.

That is helping to underpin USD/JPY with the pair up 0.2% to 147.80 but the dollar in general is sitting more mixed on the day. The overall changes are light with the greenback just marginally higher against the franc and loonie as well but down against the euro and aussie.

In the equities space, European stocks are continuing to race higher as rate hikes are out of the picture now for the ECB.

And in the commodities space, oil is continuing its run to the upside with WTI above $90 and that could play into inflation fears if the trend continues.

This article was written by Justin Low at

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