Forex news for New York trade on May 10, 2017:
Markets:
– S&P 500 up 2 points to 2399
– US 10-year yields up 1 bps to 2.41%
– WTI crude up $1.50 to $47.37
The US dollar held a steady bid in New York trade again. The market got shy earlier — maybe it was a retracement, maybe it was Comey — and USD/JPY was chopping around 113.75 as traders arrived but it made steady progress from there. For the second day in a row, a soft bond auction pushed up yields and USD/JPY. Not long after, the pair hit stops in a rush to a multi-week high of 114.37.
