The dollar is in minus against the background of declining government bonds yield
The dollar index, which reflects the strength of the dollar against a basket of six major currencies, fell 0.17% to 92.28. The dollar updated this year’s high last Wednesday at 93.22, and then began a series of cuts to 92 Monday. However, its upward trend since mid-April is still in force.
Last Friday, the US released softer than expected data on consumer inflation, which restrains expectations of a third Federal reserve rate hike this year. This news has put pressure on the yield of 10-year us government bonds, which last week rose above 3%, increasing the gap between us interest rates and other countries. However, when the yield fell to 2.96%, the dollar also lost support.