ECNS - Greenback Remains Firm Still Driest Towel On The Rack
2024-06-11 07:30:00 ET
Summary
- The US dollar is firm against all the G10 currencies, except for sterling.
- Most emerging market currencies are lower, including the Mexican peso, which has become unhinged amid heightened political uncertainty.
- European bonds, especially French bonds, remain under pressure following the EU Parliament election and the snap French election at the end of the month.
Overview
The US dollar ([[DXY]], [[USDOLLAR]]) is firm against all the G10 currencies, except for sterling, which is straddling unchanged levels after labor market report that showed an uptick earnings remained elevated, and the unemployment rate ticked up to a new high since September 2021. The dollar reached a new six-day high against the Japanese yen near JPY157.40. The Chinese yuan (onshore) fell to new lows since last November as the mainland markets re-opened from the holiday-long weekend. Most emerging market currencies are lower, including the Mexican peso, which has become unhinged amid heightened political uncertainty. The peso staged a bit of a recovery in late North American dealings but came under pressure again as president-elect Sheinbaum encouraged the discussion of judicial reform....
Greenback Remains Firm, Still Driest Towel On The Rack