Bears were caught out by a better payrolls report on Friday, which pushed Treasury yields higher into this week’s massive US$112 billion debt sale. Yet the dollar still ended lower for the seventh week in a row. The euro edged up to US$1.1791 on Monday, having hit a two-year high of US$1.1915 last week, which now acts as major resistance. Against a basket of currencies, the dollar was a fraction firmer at 93.339 and just above a two-year trough. The dollar was a little steadier on the yen at 105.75, well above the recent low of 104.17 but facing stiff resistance at 106.46.

Source: The Standard August 10, 2020 05:26 UTC