Dollar Rebounds on Rising Yields Amid Trade War Fears
The U.S. Dollar Index rebounded from its session lows as traders focused on rising Treasury yields.
The yield of 2-year Treasuries climbed towards the 4.40% level, while the yield of 10-year Treasuries settled near 4.80%, and the yield of 30-year Treasuries remained close to the critical 5.30% level.
This shift in Treasury yields had a positive impact on the U.S. Dollar Index, which is now attempting to climb above the 99.00 level.
EUR/USD stayed mostly flat as traders focused on Germany's Exports report, which showed a decrease of -0.8% month-over-month in July, contrary to analyst forecasts.
GBP/USD attempted to settle above the resistance level at 1.3565, but its progress was slow due to the BRC Retail Sales Monitor report from the UK, which revealed an increase of +0.5% year-over-year in August, below analyst expectations.