Bond movements, currency and dollar risk

Bond movements, currency and dollar risk

Igor Golovniov / SOPA Images / LightRocket via Getty Images

The dollar hovered near its three-month highs on Monday after the passage by the US Senate of an exceptional stimulus bill sparked another liquidation in the bond market, while the currencies of major commodity exporters Firsts retreated as a larger risky trade lost momentum.

The dollar index stood at 92.073 against a basket of six major currencies, up 0.17% and close to its three-month high of 92.201 set on Friday.

The Senate passed a $ 1.9 trillion Covid-19 relief plan, a day after an astonishing US jobs report sent the greenback to its highest level since November 2020.

“The dollar is in demand because the United States is the world’s most service-intensive economy, and once the reopening speech is in full swing, that will provide the icing on the cake,” said…

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