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U.S. dollar slips as European stocks end mostly lower
Benchmark European 10-year yields rose across the board, with Italy’s yield climbing 3.3 basis points, while the JPY was the only major currency down versus the dollar.
European equities closed mostly lower as rising bond yields weighed on sentiment, with France’s CAC 40 and Spain’s Ibex leading declines, while Italy’s FTSE MIB finished nearly flat, according to Forexlive.
In the European debt market, benchmark 10-year yields moved higher across major markets, with Italy seeing the largest shift, as its 10-year yield rose 3.3 basis points.
In forex, the U.S. dollar was mostly lower versus major currencies, with the Australian, Swiss, and New Zealand dollars among the stronger performers, while the Japanese yen was the only major currency that fell versus the dollar, dropping 0.06% on the day.
Forexlive also pointed to the backdrop for risk appetite, noting that U.S. stocks were mixed, while U.S. housing sentiment ticked up as the NAHB Housing Market Index rose to 35 in August, above the 33 estimate, although affordability pressures remained tied to elevated mortgage rates and rising long-term Treasury yields.
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