- US Dollar weakness further as stocks jump in Wall Street.
- Crude oil prices rise by more than 2%, Gold breaks above $1,850.
- US bonds extend recovery ahead of NFP week.
The US Dollar dropped further late on Friday with EUR/USD reaching fresh highs above 1.0630 and GBP/USD soaring above 1.2000. Risk appetite and a recovery in Treasuries weighed on the Dollar.
Dollar adds to weekly losses in the American session
The DXY broke below European session lows late on Friday and fell below 104.50 as stocks on Wall Street rose further. The Dow Jones was on its way to gain more than 1% and the Nasdaq was up by almost 2%.
In a low liquidity environment, risk appetite pushed the Dollar further lower. After a positive February, the Greenback posted the first weekly loss in a month even as US yields held near monthly highs and after upbeat US economic data.
The Pound gained momentum with GBP/USD soaring toward 1.2050. EUR/GBP trimmed weekly losses falling below 0.8830. EUR/USD rose above 1.0630 while USD/JPY fell to two-day lows below 135.80. Emerging market currencies also appreciated during Friday’s American session. USD/MXN dropped further below 18.00, to test 2018 lows.
Gold broke above $1,850 to the highest level in two weeks. Silver rose to $21.25, the strongest level since February 24. US yields pulled back further with the 10-year to 3.96%.
DXY Technical levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Note: This article have been indexed to our site. We do not claim legitimacy, ownership or copyright of any of the content above. To see the article at original source Click Here