- AUD / USD remains under bearish pressure ahead of the weekend.
- Rising US Treasury yields give the dollar a boost.
AUD / USD closed the previous three days in positive territory and touched a weekly high at 0.7801 on Friday. Nevertheless, with the dollar regaining strength, the pair reversed direction and fell back to the 0.7730 area, just above Thursday’s lows. Then it bounced and is trading just above 0.7750.
DXY bounces towards 92.00
After a sharp drop at the beginning of the week, a significant recovery seen in the U.S. Treasury yields appear to be giving the dollar a boost. The yield on the benchmark 10-year US Treasury bond is currently increasing by nearly 4% and hovering near 1.6%. The dollar is up on all fronts and the DXY gains 0.50% at 91.88.
Meanwhile, S&P 500 futures are falling 0.25% and Nasdaq futures more than 1%. The negative climate in the American markets is another positive factor for the dollar. US wholesale inflation data for February will be released shortly, followed by the consumer confidence report from the University of Michigan.
Technical levels
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