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Dollar inches lower as Treasury yields hold firm The dollar edged lower on Monday as inflation jitters, exacerbated by record high prices paid in a regional U.S. manufacturing survey, benefited riskier currencies at the greenback s expense.
FILE PHOTO: U.S. one dollar and Chinese Yuan are seen in this illustration taken May 7, 2021. REUTERS/Dado Ruvic/Illustration
18 May 2021 03:45AM (Updated:
18 May 2021 04:05AM) Share this content
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NEW YORK: The dollar edged lower on Monday as inflation jitters, exacerbated by record high prices paid in a regional U.S. manufacturing survey, benefited riskier currencies at the greenback s expense.
FOREX-Dollar inches lower as Treasury yields hold firm Reuters 1 hr ago By Stephen Culp Graphic: World FX rates https://tmsnrt.rs/2RBWI5E (Updates to late afternoon) By Stephen Culp NEW YORK, May 17 (Reuters) - The dollar edged lower on Monday as inflation jitters, exacerbated by record high prices paid in a regional U.S. manufacturing survey, benefited riskier currencies at the greenback s expense. But the U.S. 10-year Treasury yield was little changed as market participants sought clues regarding the Federal Reserve s tolerance for near- and medium-term inflation. Given that since the dollar s sell-off last week it hasn t been able to bounce much, it tells me that the driver is not the foreign currency market but the interest rate market, said Marc Chandler, chief market strategist at Bannockburn Forex in New York. And without higher interest rates it s hard to see how the dollar gets much traction. The U.S. Federal Reserve is expected to