Wednesday, March 09, 2005


Dollar Under Pressure Despite Yield Gains

The US dollar fell broadly today, even as the 10 year bond yield jumped well above the 200 day moving average. The return hit 4.51% to end very near the highs for the session.

The greenback dropped under 104 Yen and 116 Swiss Francs. The Euro continued a multi-week climb and spot gold stayed above $440. All major US markets finished lower. Equity traders appear nervous as weakness in the housing sector is evident. All eyes will be on the bond market tomorrow.

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