USD mixed in thin, choppy trade but yields provide support, economists at Scotiabank report.
Higher term yields are working in the USD’s favour, with the 10Y Treasury settling at 4.25% (a new closing high) on Wednesday.
So far today, the USD is trading mixed to marginally lower overall but the US Dollar Index (DXY) is trading above its 200-DMA for the first time in a while which rather tilts risks towards the USD remaining generally strong for now.