Dollar takes a step back ahead of European trading today ...Middle East

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The dollar and Treasury yields surged higher after the stronger ISM non-manufacturing report yesterday here. The fact that traders are also considering to pare back further rate cut odds is also a tailwind for the dollar since last Friday. But so far today, we're seeing all of that take a step back.If anything, it is just a bit of a breather as we get settled into the new week. USD/JPY is down 0.2% to 148.40 with 10-year yields down some 4 bps to 4.123% currently. The key topside challenge for 10-year yields remains near 4.20%, as highlighted yesterday here.Besides USD/JPY, the dollar is down only slightly against the euro and pound. GBP/USD in particular is an interesting one to watch after

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Last updated : 06 February 2024 clock 09:33 AM

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