What you need to know on Friday, February 26:
The dollar was under pressure for the first half of the day, but was given a boost in the United States in mid-afternoon by a Treasury auction, rising against most of its main rivals.
The 7-year bond was auctioned at 1.19% from 1.14% before the event, bringing the yield on the benchmark 10-year US Treasury bond to 1.614%, a level last seen before the pandemic to hit the US At the end of the day, it stood at 1.49%.
US indices tumbled after the bond auction, and the Nasdaq traded more than 3% lower at some point. Indices rebounded modestly before the close, but closed lower.
The EUR / USD pair hit 1.2242 but hovered around 1.2180. GBP / USD closed near a daily low of 1.3999. Commodity-linked currencies were down from new multi-year highs, with AUD / USD touching 0.8006 and USD / CAD 1.2467.
The UK’s top medical officials recommended lowering the coronavirus alert level as pressure on the healthcare system eases.
Gold fell to a new 2021 low of $ 1,760.55 a troy ounce amid the yield craze. Crude oil prices were immune to market turmoil, and the WTI ended the day little changed at around $ 63.40 a barrel.