Japan's yen weakened briefly on Monday to the 150-per-dollar level, as elevated U.S. Treasury yields kept the dollar supported across the board but without pushing it too much higher.
Investors are waiting for several events this week, including the European Central Bank meeting, and the release of U.S. GDP data and the Federal Reserve's preferred inflation gauge.
Besides that, the risk of Israel's war on the Islamist group Hamas becoming a wider regional conflict is keeping markets on edge, as Israeli air strikes battered Gaza early on Monday, and the United States dispatched more military assets to the region.
U.S. Treasuries are also at the forefront of investors' minds, with 10-year yields around 4.982%, having briefly popped above 5% last week after Federal Reserve Chair Jerome Powell said the U.S. economy's strength and hot labour markets might warrant tighter financial conditions.
The dollar index firmed a fraction to 106.23, with the euro down 0.1% at $1.0586, and sterling flat at $1.21620.
Even though it hasn't risen lockstep with yields, the dollar has been underpinned by the steady rise in yields at the long end of the U.S. Treasuries curve, driven by widening term premiums on expectations of stronger growth and fiscal slippage.
Latest Stories
-
WAFU B U-17 Girls’ Cup: Black Maidens beat Nigeria on penalties to win inaugral tournament
35 minutes -
Real Madrid beat Sevilla to keep pressure on leaders Atletico
2 hours -
Liverpool put six past Spurs to go four points clear
2 hours -
Manchester United lose 3-0 at home to Bournemouth yet again
2 hours -
CHAN 2024Q: ‘It’s still an open game’ – Didi on Ghana’s draw with Nigeria
2 hours -
CHAN 2024Q: Ghana’s Black Galaxies held by Nigeria in first-leg tie
3 hours -
Dr Nduom hopeful defunct GN bank will be restored under Mahama administration
3 hours -
Bridget Bonnie celebrates NDC Victory, champions hope for women and youth
4 hours -
Shamima Muslim urges youth to lead Ghana’s renewal at 18Plus4NDC anniversary
5 hours -
Akufo-Addo condemns post-election violence, blames NDC
5 hours -
DAMC, Free Food Company, to distribute 10,000 packs of food to street kids
6 hours -
Kwame Boafo Akuffo: Court ruling on re-collation flawed
6 hours -
Samuel Yaw Adusei: The strategist behind NDC’s electoral security in Ashanti region
6 hours -
I’m confident posterity will judge my performance well – Akufo-Addo
6 hours -
Syria’s minorities seek security as country charts new future
7 hours