Created
: 2025.05.06
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US Dollar Index falls to near 99.50 as 2-year Treasury yield drops over half a percent
World FX news
Breaking news
US Dollar Index falls to near 99.50 as 2-year Treasury yield drops over half a percent
New
2025.05.06 17:15
2025.05.06 17:15
2025.05.06 17:15
- US Dollar Index is under pressure as the yield on the 2-year US Treasury bond breaks its three-day winning streak, slipping to 3.81%.
- Trump stated on Monday that he intends to introduce pharmaceutical tariffs within the next two weeks.
- Fed is widely expected to keep interest rates unchanged on Wednesday; Fed Powell's comments will be eyed.
The US Dollar Index (DXY), which measures the US Dollar (USD) against a basket of six major currencies, is depreciating after registering gains in the previous session, trading near 99.60 during the European hours on Tuesday.
The Greenback is under pressure as the yield on the 2-year US Treasury bond breaks its three-day winning streak, slipping to 3.81%, depreciating by 0.70%. In contrast, the 10-year yield extends its gains, holding steady at 4.36% at the time of writing.
Additionally, US President Donald Trump stated on Monday that he intends to introduce pharmaceutical tariffs within the next two weeks. Trump also announced plans last week to direct the US Trade Representative and the Commerce Department to begin imposing a 100% tariff on films produced abroad.
The Federal Reserve (Fed) is scheduled to announce its monetary policy on Wednesday. While the Fed is widely expected to keep interest rates unchanged, markets are closely watching Chair Jerome Powell's comments, particularly amid tariff-related uncertainty and mounting pressure from President Donald Trump for rate cuts.
Treasury Secretary Scott Bessent said Monday that the US is "very close to some deals," reinforcing comments made by Trump over the weekend about progress in trade negotiations. However, Trump confirmed he will not meet with Chinese President Xi Jinping this week. Meanwhile, China's Commerce Ministry stated Friday it is reviewing a US proposal to restart talks.
On the economic front, US data signaled resilience in the services sector. The ISM Services PMI climbed to 51.6 in April, surpassing expectations of 50.6 and improving from March's 50.8. The New Orders Index rose to 52.3 from 50.4, and the Services Employment Index increased to 49 from 46.2.
US Dollar PRICE Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.16% | -0.18% | -0.32% | -0.06% | 0.21% | -0.28% | 0.21% | |
| EUR | 0.16% | -0.04% | -0.15% | 0.12% | 0.35% | -0.13% | 0.36% | |
| GBP | 0.18% | 0.04% | -0.15% | 0.12% | 0.41% | -0.11% | 0.41% | |
| JPY | 0.32% | 0.15% | 0.15% | 0.25% | 0.52% | 0.11% | 0.53% | |
| CAD | 0.06% | -0.12% | -0.12% | -0.25% | 0.26% | -0.23% | 0.29% | |
| AUD | -0.21% | -0.35% | -0.41% | -0.52% | -0.26% | -0.48% | 0.02% | |
| NZD | 0.28% | 0.13% | 0.11% | -0.11% | 0.23% | 0.48% | 0.51% | |
| CHF | -0.21% | -0.36% | -0.41% | -0.53% | -0.29% | -0.02% | -0.51% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Last updated
: 2025.05.06
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2025.05.06 18:54
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AUD/USD retraces to near 0.6450 on slowdown in China's PMI
The AUD/USD pair corrects sharply to near 0.6450 in Tuesday's European session from the five-month high of 0.6500 posted on Monday. The Aussie pair retraces as the Australian Dollar (AUD) underperforms across the board due to a slowdown in business activity in China.
New
2025.05.06 19:30USD/CNH slips below March lows, downtrend resumes - Société Générale
USD/CNH has lost traction after failing to hold above its 50-DMA and now trades below key March support, with the pair's inability to reclaim 7.30 suggesting further downside risk toward 7.14 and 7.10, Société Générale's FX analysts note.
New
2025.05.06 19:11AUD/USD rebounds, eyes break above 200-DMA - Société Générale
AUD/USD has staged a steady recovery from last month's lows and is now testing the 200-day moving average, with a breakout above February highs near 0.6410 seen as critical for unlocking further upside toward 0.6550 and beyond, Société Générale's FX analysts note.
New
2025.05.06 19:07EUR/CHF falls despite soft Swiss CPI print - Danske Bank
April's downside surprise in Swiss inflation has reinforced expectations of a June rate cut by the SNB, with markets now entertaining the possibility of a return to negative interest rates as the strong franc and global uncertainties weigh on growth and price stability, Danske Bank's FX analysts rep
New
2025.05.06 19:02Pound Sterling performs strongly even as BoE dovish bets remain firm
The Pound Sterling (GBP) trades firmly against its major peers, except the Japanese Yen (JPY), on Tuesday.
New
2025.05.06 19:02USD/CNH can rise further to 7.2400 - UOB Group
Rebound amid apparent positive divergence suggests US Dollar (USD) could rise further to 7.2400 vs Chinese Yuan (CNH); strong resistance at 7.2800 is unlikely to come under threat. In the longer run, USD could range-trade for a few days before resuming its decline; the level to watch is at 7.1700,
New
2025.05.06 18:59USD/CNH drops to six-month low amid optimism - Danske Bank
Asian currencies rallied sharply, led by a historic surge in the Taiwan dollar, as growing speculation over imminent trade talks between the US and its Asian partners boosted market sentiment and fueled hopes of policy shifts, Danske Bank's FX analysts report.
New
2025.05.06 18:56USD/JPY has likely entered a consolidation phase - UOB Group
US Dollar (USD) is expected to trade in a 143.40/144.85 range vs Japanese Yen (JPY). In the longer run, USD has likely entered a consolidation phase and is likely to trade between 142.20 and 146.70 for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.05.06 18:54USD faces downside risks despite recent stabilization - Danske Bank
Although the US dollar has found temporary support from equity gains and easing trade tensions, lingering soft data and early signs of labour market weakness suggest the greenback remains vulnerable to a gradual decline, reinforcing a bearish medium-term outlook, Danske Bank's FX analysts report.
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2025.05.06 18:51US oil industry set to slow - ING
The weakness in oil prices will prompt a pullback in drilling activity in the US, ING's commodity expert Warren Patterson notes.
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2025.05.06 18:46Disclaimer:
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