British Pound Futures Market News and Commentary
The dollar index (DXY00) on Friday fell -0.198 (-0.21%). Dec euro-fx futures (E6Z0) closed up +0.0041 (+0.34%), and EUR/USD (^EURUSD) rose +0.0040 (+0.34%). Dec yen futures (J6Z0) closed up +0.0012 (+0.12%), and USD/JPY (^USDJPY) fell -0.14 (-0.13%).
The dollar index on Friday posted modest losses. T-note yields fell back from multi-month highs Friday and moved lower, which undercut the dollar. EUR/USD rallied Friday on signs of strength in European manufacturing activity. USD/JPY fell back as the yen strengthened on positive Japanese economic data.
The dollar moved lower Friday on lower T-note yields, which weakened the dollar's interest rate differentials. The 10-year T-note yield on Friday initially rose to a new 4-1/2 month high of 0.870% but fell back and finished the day down by -1.5 bp at 0.841%.
The dollar still has support from the stalled pandemic stimulus talks in Washington, although funding for state and local governments remains the key issue singl... Read more