Xinhua Finance and Economics, New York, December 27 (Reporter Liu Yanan) Dragged down by the lower yields of long-term U.S. Treasury bonds, the U.S. dollar weakened against a basket of currencies other than the Canadian dollar on the 27th, and the U.S. dollar index, which measures the U.S. dollar against six major currencies, was **047%, closing at 100986。
FX News** FXMegim market analyst Vladimir Zernov said the dollar index ** as traders focused on the pullback in US Treasury yields.
On the day, the U.S. 10-year Treasury yield significantly exceeded 11 basis points, falling to 38% below, while the yields on 10-year Treasury bonds in other countries fell to a lesser extent, and the dollar came under significant pressure.
According to Zernov, the RSI is already in oversold territory, so the odds of the dollar are increasing. Nevertheless, there is a fair chance that the dollar index will test 10050 to 100Support level of 80.
Lou Brien, a strategist at DRW Trading Group, said that at least in the next few months, Japan will finally end its ultra-loose monetary policy, and the ECB also looks more hawkish than the Fed's newly displayed stance.
According to Lou Brien, the key to the U.S. outlook is what drives the Fed to cut interest rates. If inflation falls faster than the Fed's federal** interest rate cuts, this could make financial conditions tighter than the Fed would like. The Fed cuts interest rates to avoid overly tight monetary policy, which is likely to be a good situation. If the Fed cuts interest rates due to a weaker economy, historically the economy and ** have not performed very well in this case. The motivation behind the rate cut is still unknown, and this will be the most important factor.
As of the end of the New York exchange market, 1 euro is exchanged for 1$1,102, up from $1$1045;1 pound to 1$2,795, up from $1 in the previous session$2723;1 dollar for 14189 yen, down from 142 in the previous session45 yen;1 USD to 0CHF 8,433, down from 0CHF 8532;1 dollar for 1C$3,213, up from 1CAD 3203;1 dollar to 99,497 SEK, down from 9 in the previous session9904 SEK.
Editor: Wang Shurui.
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