[외환] US dollar declines as inflation concerns ease

[뉴욕=뉴스핌] Correspondent Kim Min-jung = The US dollar fell slightly on the 10th (local time). The bidding for 10-year US Treasury bonds, which drew attention from the market, was not strong, but not enough to raise market concerns. The dollar turned downward on a weaker-than-expected price index.

The dollar index (dollar index), which shows the value of the dollar against the six major basket currencies, was 91.83, down 0.14% from the previous day.

The weaker-than-expected keynote inflation has stabilized investors’ sentiment. The US Department of Labor said last month that the Consumer Price Index (CPI) rose 0.4% from the previous month and 1.7% from the previous year. However, the rise in inflation was mainly due to the rise in gasoline prices due to the rise in international oil prices.

Excluding food and energy with high volatility, the core CPI rose only 0.1% MoM and 1.3% YoY.

Crumpled US Dollars.[사진=로이터 뉴스핌]2021.02.24 [email protected]

Investors’ attention was focused on the US Treasury Department’s $38 billion 10-year Treasury bill bid. The bid rate was 1.523% and the bid rate was 2.38%, slightly below the average of 2.42%. The bidding itself wasn’t strong, but experts thought it wasn’t enough to raise concerns about the demand for US Treasury bonds.

“It was government bond yields that moved the dollar since the beginning of the year, and there is no reason to change this scenario,” said Joseph Trebizani, senior analyst at FX Street.com. Said.

The U.S. House of Representatives has passed an additional $1.9 trillion worth of new coronavirus infection (Corona 19) support. President Joe Biden is expected to sign the bill on the 12th. As a result, Americans will receive up to $1,400 in grants per capita.

The euro rose 0.21% against the dollar and the British pound rose 0.34%.

The Japanese yen, which weakened against the dollar amid rising government bond yields, was 0.11% stronger and the Swiss franc weakened 0.18%.

The flagship commodity currency, the Australian dollar, rose 0.23%.

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