Market Briefing: Dollar Trades Sideways on Market Cross-Currents
The dollar is turning in a mixed performance this morning as Treasury yields slip and major currency pairs move in diametrically opposed directions. Ten-year yields are holding around 4.17 percent and the trade-weighted greenback is back to levels that prevailed at the beginning of the month, with the big European units inching upward even as Asia falls. The pound continues to ascend, building on gains achieved over the weekend when Boris Johnson pulled out of the race to succeed Liz Truss as British prime minister. With Rishi Sunak now at the helm, markets expect some semblance of fiscal orthodoxy to...