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Foreign exchange market: the dollar strongly supported by high US bond yields, the yen weakened briefly

23/10/2023
Categories: Economy/Forex

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At the beginning of this week, the dollar was firmly supported by high US bond yields. For its part, the yen weakened briefly Monday to reach the level of 150 per dollar on Monday .

The dollar index strengthened by a fraction to 106.23, with the euro down 0.1% to $1,0586, and the pound sterling remained stable at $1.21620. The dollar has been supported by steady increases in yields along the long end of the U.S. Treasury bond curve, due to increased futures premiums linked to expectations of stronger growth and fiscal slippage

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For its part, the Japanese yen last traded at 149.9 per dollar, after briefly falling to 150.14 on Monday, a level last reached on October 3, when traders suspected the Bank of Japan (BOJ) of & Intervene to bring him back to the strongest side of the 150

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