U.S. Treasury yields pull back, putting slight pressure on the dollar as markets focus on the Federal Reserve meeting minutes
智通财经2026/08/19 02:41Show original
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- During Wednesday's Asian trading session, the US dollar edged lower against major currencies, with the US Dollar Index currently down 0.1% to around 99.55, as US Treasury yields retreated from recent highs. Investors are awaiting the latest Federal Reserve policy meeting minutes for further clues on the direction of interest rates.
- The euro rose slightly against the US dollar to 1.1584, with resistance near the two-month high of 1.1613 reached earlier this week. The pound was steady against the US dollar at 1.3537, after hitting a three-month high of 1.3570 on Monday, as the market awaits UK inflation data to gauge price pressures. The yen fell 0.18% against the US dollar to 159.33, having given back most of its intervention-driven gains, but the rate remains well above the multi-decade low near 164. The benchmark 10-year US Treasury yield continued to decline to 4.694%, while the 30-year yield slipped to 5.276%. Alpine Macro's chief strategist noted that if the Federal Reserve does not raise rates further as the market expects, there should be very limited room for Treasury yields to rise further.
- Meanwhile, the Middle East situation remains deadlocked, pushing oil prices to a near three-week high, with inflation risks persisting. Trump stated that there have been no negotiations between the US and Iran and insisted that the Strait of Hormuz remains open, contradicting Iran's statement that the waterway is still closed to shipping. The New Zealand dollar and Australian dollar were little changed, quoted at 0.5870 and 0.7078 US dollars respectively.
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