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Dollar rises as US yields climb to fresh highs
The 10-year Treasury yield rebounded after falling to 4.513% on Friday, while EURUSD broke below key moving averages near 1.144 and 1.143.
US Treasury yields moved higher across the curve, and the US dollar followed, as inflation concerns kept attention on the outlook for rates, according to Forexlive.
The 2-year yield traded at 4.216%, up 4.5 basis points, the 5-year yield at 4.316%, and the 10-year yield at 4.581%, while the 30-year yield was at 5.096%. Forexlive said the 2-year yield had dipped to 4.11% on Friday before reversing upward.
Forexlive added that the 10-year yield had fallen to 4.513% on Friday, its lowest level since July 7, but buyers stepped back in, pushing it above its 100-hour and 200-hour moving averages near 4.566% and 4.572%. The outlet linked the yield rebound to pressure on inflation expectations, noting that higher energy costs continued to complicate the inflation outlook.
In FX, Forexlive said EURUSD broke below its 100-hour moving average at 1.1439 and 200-hour moving average at 1.1427, with a next downside target at Wednesday's low of 1.1407. For USDJPY, the outlet reported the pair pushed back above a swing zone between 162.399 and 162.510, retesting an Asian-session high around 162.57.