USD/CAD sinks on investors bracing for riskier assets amidst an offered USD – by christianborjon USDCAD Majors Macroeconomics Fed
US cooled on yearly figures, but core CPI rising MoM suggests inflation is stickier than estimates.USD/CAD
Recent turmoil in the US banking systems plunged US Treasury bond yields, particularly 2s, which fell 100 bps in two days. However, backstop measures implemented by the US Federal Reserve have calmed investors, as shown by the market mood. Consequently, US Treasury bond yields recovered some ground and underpinned the US Dollar. The US Dollar Index, a measure of the buck’s value vs. a basket of peers, finished the session with minuscule gains of 0.03%, at 103.659, and capped the USD/CAD rally.
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