Dollar Rebounds As US Government Bond Yields Strengthen

Armfalcon.com, NEW YORK — The dollar strengthened against a number of other major currencies at the end of trading Friday (14/4/2023, bouncing back from a two-month low after inflation cooled. The rise was driven by rising yields on US government bonds following the release of US economic data and comment hawkish from a Fed official.

The dollar index, which measures greenbacks against six other major currencies, it was up 0.59 percent to 101.6179 in late trading. In late New York trading, the euro fell to US$1.0999 from US$1.1046 of the previous session, and the British pound fell to US$1.2414 from US$1.2523 in the previous session.

The US dollar bought 133.7870 Japanese yen, higher than 132.7800 Japanese yen in the previous session. The US dollar increased to 0.8939 Swiss franc from 0.8882 Swiss franc, and it was up to 1.3360 Canadian dollars from 1.3339 Canadian dollars. The US dollar rose to 10.3245 Swedish krona from 10.2654 Swedish krona.

Federal Reserve Governor Christopher Waller was one hawkish the central bank’s biggest focus on interest rates, in a speech on Friday (14/4/2023) said he wants more monetary tightening despite evidence that inflation in the United States is down from four-decade highs.