<div class="at-above-post addthis tool" data-url="https://www.metro.us/dollar-resumes-rebound-from/"></div>NEW YORK (Reuters) – The U.S. dollar on Wednesday resumed its rebound from near three-week lows, rising broadly on hopes of higher government spending by President-elect Joe Biden’s incoming administration and an ongoing economic recovery from the coronavirus crisis. A rise in U.S. Treasury yields, driven by expectations that Biden’s administration will ramp up spending, […]<! AddThis Advanced Settings above via filter on get the excerpt ><! AddThis Advanced Settings below via filter on get the excerpt ><! AddThis Advanced Settings generic via filter on get the excerpt ><! AddThis Share Buttons above via filter on get the excerpt ><! AddThis Share Buttons below via filter on get the excerpt ><div class="at-below-post addthis tool" data-url="https://www.metro.us/dollar
The U.S. dollar on Wednesday resumed its rebound from near three-week lows, rising broadly on hopes of higher government spending by President-elect Joe Biden's incoming administration and an ongoing economic recovery from the coronavirus crisis.
Stabilising U.S. Treasury yields helped the dollar trade back in positive teritory on Wednesday, though investors remained bearish on the currency’s near-term prospects. Benchmark 10-year Treasury yields fell more than 6 basis points from a 10-month high hit on Tuesday, briefly snuffing out a three-day winning streak for the dollar. They last traded 2 basis .
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NEW YORK (Reuters) - The U.S. dollar on Wednesday resumed its rebound from near three-week lows, rising broadly on hopes of higher government spending by President-elect Joe Biden’s incoming administration and an ongoing economic recovery from the coronavirus crisis.
FILE PHOTO: A U.S. Dollar banknote is seen in this illustration taken May 26, 2020. REUTERS/Dado Ruvic/Illustration
A rise in U.S. Treasury yields, driven by expectations that Biden’s administration will ramp up spending, has helped boost the battered dollar in recent sessions, although it slumped on Tuesday.
The greenback has also found support from expectations of a continued economic recovery in the United States, even as countries in Europe resort to lockdowns to fend off a second COVID-19 wave.