June 11, 2024 at 08:20PM
US dollar bulls are suddenly getting cold feet.
A strong auction of 10-year notes today highlighted a bond market that’s less-concerned about inflation or the Fed. That’s been a green light to buy risk assets and sell the US dollar.
Earlier today the pound sank against the US dollar but it’s since made a complete turnaround, rising to the highs of the day.
Similarly, the US dollar is under pressure right across the board.
This article was written by Adam Button at www.forexlive.com.
Cable reverses to the highs of the day as the US dollar sags