Dollar ticks up amid rise in bond yields

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IANS | 20 Aug, 2019
The US dollar increased on Monday, as investors got a brief relief from the rising yields of the US treasury bonds.

The dollar index, which measures the greenback against six major peers, increased 0.21 per cent at 98.3570 in late trading, the Xinhua news agency reported.

In late New York trading, the euro decreased to $1.1081 from $1.1095 in the previous session, and the British pound was down to $1.2132 from $1.2151 in the previous session. The Australian dollar declined to $0.6765 from $0.6781 dollar.

The dollar bought 106.62 Japanese yen, higher than 106.28 Japanese yen of the previous session. The dollar was up to 0.9812 Swiss franc from 0.9783 Swiss franc, and it rose to 1.3329 Canadian dollars from 1.3269 Canadian dollars.

The long-dated and short-dated US treasury notes saw their yields rally on Monday, with the benchmark 10-year Treasury yields up to nearly 1.61 per cent and the yields of 2-year note up to nearly 1.56 per cent.

The 10-year bill yields broke below the two-year bill yields once at a point last week, deepening worries that an inverted yield curve would incur an impending economic recession.