European Open Preview – Dollar rally gets a second wind, buoyed by rising Treasury yields
Posted on May 16, 2018 at 7:49 am GMTHere are the latest developments in global markets: FOREX: The US dollar index is higher on Wednesday but by less than 0.1%, extending the notable gains it posted yesterday, when it advanced against all major currencies. Solid US retail sales data pushed the yields of longer-term US bonds to fresh multi-year highs, breathing a second wind into the dollar’s latest rally. STOCKS: Major US indices tumbled yesterday, as the renewed rise in US yields sapped demand for stocks. Rising borrowing costs could [..]