Dollar gains on rise in U.S. Treasury yields and equities – FXStreet

Credit: Original article can be found here

The greenback extended its recent winning streak and ended higher against majority of its peers on Monday due to rise in U.S. Treasury yields on expectations of strong U.S. economic growth and rising inflation.  
Versus the Japanese yen, although dollar moved sideways in Asia, price rallied from 108.33 to a fresh near 9-month high of 108.94 in New York on usd’s broad-based strength as well as rise in U.S. Treasury yields.  
Although the single currency recovered to 1.1932 at Asian open, price continued its recent losing streak and fell to a fresh 3-month low of 1.1857 at New York open on usd’s strength before rebounding to 1.1886 on short-covering. Price later edged lower to sessions low of 1.1845 near New York close.  
The British pound swung broadly sideways. Cable recovered from 1.3808 to 1.3865 in New Zealand before retreating to 1.3801 at European open on usd’s strength. The pair then rebounded to 1.3856 at New York open on cross-buying in sterling and then traded narrowly.  
Data to be released on Tuesday :  
New Zealand manufacturing sales, Japan all household spending, GDP deflator, GDP, machine tool orders, UK BRC retail sales, Australia NAB business conditions, NAB business confidence, France non-farm payrolls, Germany exports, imports, trade balance, current account, Italy industrial output, EU employment change, GDP, Canada leading index and U.S. redbook.

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