Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Thursday, 3 June 2021, 10:00 HKT/SGT

Source: WCG Markets
US Bond Yields And Correlation To The Dollar

Jakarta, Indonesia, June 3, 2021 - (ACN Newswire) - The British Pound Sterling held firm near a three-month high against the US dollar last week, amid rising expectations of an earlier than expected rate hike by the Bank of England, while the US currency looks to inflation data which will come. The British pound was up at $1.4203 after rising 0.58% on Thursday after Bank of England policy makers said the central bank is likely to raise interest rates through next year. The euro was at $1.2190, below a 5 1/2-month high touched Tuesday at $1.2266 as steady comments from European Central Bank officials dampened its momentum ahead of a policy meeting on June 10. The dollar jumped to 109.85 yen, breaking its limited range for the past few weeks, to hit its highest level in seven weeks. The jump likely reflects yen selling due to MSCI's overhaul of its standard stock index, from which nearly 30 Japanese names were stripped, analysts said.

The yen was also hampered by concerns about a delay in Japan's economic recovery after media reported that Japan wanted to extend the state of emergency in Tokyo and several other areas in the three weeks to June 20. Additionally, the Dollar enjoyed a slight boost from higher US bond yields following a New York Times report that President Joe Biden will announce on Friday a $6 trillion budget for 2022. The proposal comes as the US economic recovery appears to be gaining momentum. The number of Americans filing new claims for unemployment benefits fell more than expected last week to a seasonally adjusted 406,000 as companies desperately need workers to meet soaring demand as the economy reopens quickly. US inflation data due at 1230 GMT on Friday is one of the biggest focuses, as a high yield could fuel expectations of policy tightening by the Federal Reserve. Analysts at WCG Markets expect core PCE prices (personal consumption expenses) to jump 2.9% year-on-year in April, compared to a year-on-year increase of 1.8% in the previous month. While that is well above the Federal Reserve's 2% target, economists expect core inflation to slow gradually later in the year, allowing the Fed to stick to its current asset-buying measure for now.

Media contact
Company: WCG Markets
Contact: Brian

Topic: Press release summary
Source: WCG Markets
From the Asia Corporate News Network

Copyright © 2022 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

Latest Press Releases
Pixis (Formerly Pyxis One) Raises $100M in SoftBank Vision Fund 2-led Series C to Grow Its Codeless AI Infrastructure   
Jan 22, 2022 02:00 HKT/SGT
2022's First SPAC and Metaverse Investment Opportunities Virtual Investment Conference in Hong Kong  
Jan 21, 2022 19:35 HKT/SGT
Yeahka ranks No. 1 in the non-bank independent QR code payment service market in China  
Jan 21, 2022 17:51 HKT/SGT
Mitsubishi Power Europe and Stockholm Exergi partner to deliver clean power and heat to the city of Stockholm  
Friday, January 21, 2022 3:51:00 PM
MoU Between Verofax Asia and Distichain to Enable Empowered Digital Global Trade  
Jan 21, 2022 14:00 HKT/SGT
What You Need to Know about TRON in 2022  
Jan 21, 2022 13:00 HKT/SGT
Ingerson Capital Partners Releases the Performance Report on 'Asia Driving Demand for Longer Trading Hours'  
Jan 21, 2022 13:00 HKT/SGT
Realbox launches one of world's first blockchain-based real estate tokenization platforms  
Jan 20, 2022 20:00 HKT/SGT
Slime Royale Announces to Receive Strategic Investment and Incubation Support from Appota Group  
Jan 20, 2022 14:00 HKT/SGT
Hitachi Rail Awarded Contract to Operate and Maintain Princess Noura Bint Abdul Rahman University Autonomous System in Riyadh, Saudi Arabia  
Thursday, January 20, 2022 1:14:00 PM
More Press release >>
More >>
 News Alerts
Copyright © 2022 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 214 890 4418 | Beijing: +86 400 879 3881 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575

Connect With us: