DXY tanks in sync with Treasury yields as risk-off worsens. Coronavirus updates to drive the market sentiment. Oil plunge also tempers the market mood. The US dollar remains broadly battered for the fourth consecutive day on what seems to be Black Monday, with a flash crash seen across the fx space and Asian stocks smashed alongside Wall Street futures and Treasury yields. With intensifying panic around the coronavirus outbreak globally and over 25% slump in oil prices, in the wake of the Saudi Arabian and Russian tussle, investors fled to safety in the US bonds to hedge the economic fallout, which led to over 30% crash in the US benchmark 10-year Treasury yields. The 10-year US Treasury yields hit a record low of 0.477 in the last hour after USD/JPY saw a flash crash to the lowest levels since November 2016 at 101.59, which eventually dragged the US dollar to a new 17-month low of 94.90 against a basket of six major currencies. At the press time, the spot trades near 95.25, still down 0.75% on the day. Moreover, CME’s FedWatch tool showed that markets see an 84% chance that the Federal Reserve (Fed) will cut its benchmark borrowing costs by 75 basis points when it meets March 17-18. The expectations of a steeper rate cut also exacerbated the pain in the buck. Looking ahead, the risk-off sentiment amid heightening fears over global economic fallout from the infectious disease will continue to lead the way, as any macro news will play second fiddle. US dollar index technical levels to watch FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Cryptocurrency Market Update: Bitcoin, Ethereum and Ripple succumb to a massive weekend selloff FX Street 3 years DXY tanks in sync with Treasury yields as risk-off worsens. Coronavirus updates to drive the market sentiment. Oil plunge also tempers the market mood. The US dollar remains broadly battered for the fourth consecutive day on what seems to be Black Monday, with a flash crash seen across the fx space and Asian stocks smashed alongside Wall Street futures and Treasury yields. With intensifying panic around the coronavirus outbreak globally and over 25% slump in oil prices, in the wake of the Saudi Arabian and Russian tussle, investors fled to safety in the US bonds to hedge the economic fallout,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.