The U.S. dollar climbed in Friday trading, as investors grappled with an inverted U.S. Treasury yield curve and another round of disappointing economic data in the eurozone region that put pressure on the euro.
The ICE U.S. Dollar Index continued its climb after Thursday's gains and rose 0.1% to 96.616. For the week, the gauge, which measures the greenback against six rivals, is flat. Notably, it fell to a six-week low on Wednesday, following the Federal Reserve™s dovish policy update.
Elsewhere in U.S. assets, the spread between the 3-month Treasury yield and the 10-year yield inverted for the first time since 2007, thanks to a rally in longer-dated bonds. U.S. stocks dropped as the yield curve inversion is seen as an early recession indicator.
This wasn™t the only big fixed income move, as disappointing data led German 10-year bund yields to fall below 0% earlier.
The euro was among the weakest performers against the dollar on Friday, last buying $1.1300, down from $1.1377, its lowest level in six days.
Source : Marketwatch
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