The US 10-year yields have reached a 16-year high of 4.55%, causing a ripple effect across the global market. As a result, the US dollar remains strong, with USD/JPY testing above 149.00. Equities, on the other hand, are on a downward trend, with S&P 500 futures showing a decline of over 0.5% for the day. This has also affected the Australian and New Zealand dollars, as AUD/USD and NZD/USD have both dropped 0.3% to 0.6404 and 0.5950 respectively. Risk trades in Europe are not looking promising, which further strengthens the position of the US dollar.
With the US 10-year yields surging to their highest point in 16 years, the global market is feeling the impact. This has resulted in the US dollar maintaining its strength, evidenced by USD/JPY testing above 149.00. Equities, on the other hand, are experiencing a decline, with S&P 500 futures marking a decrease of more than 0.5% for the day. As a consequence, both the Australian dollar (AUD/USD) and New Zealand dollar (NZD/USD) have suffered, each dropping 0.3% to 0.6404 and 0.5950, respectively. The dismal outlook for risk trades in Europe further solidifies the US dollar’s advantageous position.
The recent surge in US 10-year yields, which have now reached their highest level in 16 years at 4.55%, continues to send shockwaves through global markets. The strength of the US dollar remains evident, as USD/JPY is now pushing above 149.00. Simultaneously, the equity market is witnessing a decline, with S&P 500 futures showing a markdown of over 0.5% for the day. This decline has also affected the Australian and New Zealand dollars, with AUD/USD and NZD/USD both experiencing a 0.3% decrease to 0.6404 and 0.5950, respectively. As Europe braces for potential downturns in risk trades, the US dollar’s fortitude remains a positive development.
