Market Briefing: Dollar inches upward after a bruising week
Investors betting on policy “pivots” from the US Federal Reserve and the Chinese government are trimming their bets this morning, helping the dollar recover some ground against its major-currency rivals. Treasury yields are up slightly, and oil prices are weakening as last week’s ebullience fades in the face of a still-subdued economic outlook. The dollar suffered its biggest decline since the global financial crisis last week after the latest consumer price index report showed inflation pressures subsiding more quickly than expected. Yields on two- and 10-year Treasury instruments plunged as investors lowered terminal rate forecasts, expecting the Fed to respond...