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FOREX-Dollar pares gains after hitting four-month high as risk appetite wanes

Published 03/25/2021, 10:54 PM
Updated 03/25/2021, 11:00 PM
© Reuters.
USD/SEK
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DX
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TSLA
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* Dollar largely flat after reaching four-month high
* U.S. Treasury yields dip ahead of auction
* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E

(Adds new analyst quote, updates throughout)
By Jessica DiNapoli and Elizabeth Howcroft
New York, March 25 (Reuters) - The U.S. dollar reached a
fresh four-month high before slashing its gains on Thursday, as
yields on U.S. Treasuries dipped and investors' appetite for
risk shrunk.
The dollar index was mostly unchanged at 92.6410 in
mid-morning trading.
Yields on Treasuries crept down and stocks fell, with
10-year notes yielding 1.598 ahead of an auction on
shorter-dated bonds on Thursday. Investors were
shrugging off positive U.S. economic data showing that
fewer-than-expected Americans filed new claims for unemployment
benefits last week.
"There's some nervousness around positioning, some paring
down of positions within the foreign exchange market," said
Mazen Issa, senior currency analyst at TD Securities, adding
that some technical developments have also kept the dollar on a
"bit of a roll."
U.S. stocks opened lower in a session marked by choppy
trading.
Concerns about extended lockdowns in Europe also weighed on
markets. German Chancellor Angela Merkel's decision to ditch
plans for a lockdown over Easter did little to improve
sentiment. The euro was down 0.12% against the dollar, at $1.1800
EUR=EBS , with analysts forecasting it could embrace the $1.16
range, as Europe's economic recovery from the pandemic lags.
The Australian and New Zealand dollars, which dropped in the
previous two sessions, edged back up slightly against the U.S.
dollar AUD=D3 NZD=D3 , but both were only up by around 0.1%
on the day overall.
On Wednesday, U.S. Treasury Secretary Janet Yellen and
Federal Reserve Chair Jerome Powell expressed their confidence
in the U.S. recovery during a second day of testimony to
Congress. European leaders meet on Thursday and will discuss vaccine
supplies. The EU on Wednesday tightened its oversight of coronavirus
vaccine exports, giving it greater scope to block shipments to
countries with higher inoculation rates such as Britain.
Bitcoin extended recent losses, down 1.43% at $51,535.69
BTC=BTSP .
The cryptocurrency briefly topped $57,000 in the previous
session after Tesla Inc TSLA.O boss Elon Musk said customers
can now buy the company's electric cars with the digital token.
Currency bid prices at 10:27AM (1427 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Dollar index =USD 92.6630 92.5970 +0.08% 2.981% +92.7540 +92.5120
Euro/Dollar EUR=EBS $1.1801 $1.1815 -0.11% -3.41% +$1.1828 +$1.1791
Dollar/Yen JPY=D3 109.0900 108.6800 +0.40% +5.64% +109.1600 +108.7500
Euro/Yen EURJPY= 128.74 128.42 +0.25% +1.43% +128.9400 +128.4300
Dollar/Swiss CHF=EBS 0.9373 0.9358 +0.18% +5.96% +0.9375 +0.9351
Sterling/Dollar GBP=D3 $1.3731 $1.3680 +0.38% +0.51% +$1.3741 +$1.3671
Dollar/Canadian CAD=D3 1.2595 1.2582 +0.10% -1.09% +1.2607 +1.2547
Aussie/Dollar AUD=D3 $0.7598 $0.7581 +0.28% -1.18% +$0.7614 +$0.7579
Euro/Swiss EURCHF= 1.1060 1.1052 +0.07% +2.34% +1.1070 +1.1043
Euro/Sterling EURGBP= 0.8593 0.8629 -0.42% -3.86% +0.8641 +0.8592
NZ NZD=D3 $0.6968 $0.6961 +0.10% -2.97% +$0.6986 +$0.6957
Dollar/Dollar
Dollar/Norway NOK=D3 8.6260 8.5685 +0.61% +0.39% +8.6275 +8.5900
Euro/Norway EURNOK= 10.1803 10.1608 +0.19% -2.74% +10.1818 +10.1360
Dollar/Sweden SEK= 8.6360 8.6046 +0.18% +5.36% +8.6448 +8.5985
Euro/Sweden EURSEK= 10.1915 10.1733 +0.18% +1.14% +10.1961 +10.1652


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World FX rates https://tmsnrt.rs/2RBWI5E
USD https://tmsnrt.rs/3a0DdOD
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