Extends above the 108.00 area
Last week, the 107.00 level stalled the rally. The move higher in global yields – on hopes for higher US growth – are certainly helping to propel the dollar higher. The US 10-year is up about 5.4 basis points to 2.2065%. That is a bullish catalyst for the dollar. We are, however, down from 2.300% high. So will be eyeing if the momentum starts to fade. So far, we are not seeing much selling.