The dollar has strengthened significantly: it is up +0.4% on average, as witnessed by the $-Index, which has climbed back above 103 to settle at 103.28, its highest level since August 2 and 8.
It is benefiting from the full risk-on effect on US equities, which is attracting capital (records are once again raining down on Wall Street, with the Dow Jones at almost 43,100Pts and the S&P500 at over 5,860Pts, less than 2% of the 6,000Pts.100Pts and an S&P500 at over 5,860Pts, within 2.4% of 6,000Pts (i.e. X 2.5 since March 2020 and X 9 since March 2009).
The Dollar was also supported by the rise in the yield on US ten-year government bonds, which set a new 3-month record at 4.148% in the session (4.1250% this evening), with the ‘2-year’ rising +1.2Pt to 3.953%, and the ’30-year’ +2.5 to 4.4070%.
The Euro has lost -0.4% against the greenback to 1.0890, the Yen also to 150, and the weakest currency is the Swiss Franc, down -0.7% against the $ and -0.35% against the Euro to 0.9410.
The Pound is holding up better against the $ at 1.3050 (-0.1%), also boosted by an interest rate that has jumped to 4.2850%, the highest since July 1.
The Dollar’s strength is barely affecting the ounce of gold, which is down -0.25% at $2,650/Oz and remains close to its peaks (within 1% of its all-time highs).
Copyright (c) 2024 CercleFinance.com. All rights reserved.
