What you need to know on Friday, February 17:
The greenback started the day with the wrong footing, falling against most major rivals but changed course with Wall Street’s opening, as US Treasury yields soared to fresh one-year highs. The yield on the 10-year note hit 1.292%, while that on the 30-year note moved stood as high as 2.095%.
Stocks, on the other hand, retreated from record highs, with US indexes ending the day mixed around their opening levels.
Investors are optimistic about an upcoming US stimulus package. News on the matter is expected before month-end.
EUR/USD met sellers around a tough resistance area surrounding 1.2170, ending the day in the red around 1.2110, still within familiar levels. The British Pound remains resilient to the dollar’s demand and bounced back, ending the day with modest gains around 1.3920.
Commodity-linked currencies had uneven behavior. The Canadian dollar retained its latest gains against the greenback, but the Australian currency edged lower. Still, both are poised to extend their recent rallies. USD/JPY soared alongside Treasury yields, flirting with the 106.00 figure.
Gold plummeted on a stronger dollar and traded as low as $1,790.80 a troy ounce. It finished the day at 1,796. Crude oil prices gave up some ground, but WTI settled at $60.00 a barrel.
Bitcoin surpassed $50,000 for the first time ever, retreating afterwards.
Cryptocurrencies Price Prediction: Polkadot, Vechain & Elrond – American Wrap 16 February
US Stocks Today: Records in sight again as CCIV trends and Bitcoin busts it
Share
