The USD extended its decline, slipping from the 106 mark
Fed member Bostic told the American Bankers Association that even if the Fed raises interest rates to slow the economy while keeping inflation in check, there is no prospect of a recession. Joseph Trevisani, a senior analyst at FX Street in New York, said Bostic's response comes amid the eruption of conflict in the Gaza Strip.
Analysts also said the decline in U.S. yields initially reflected comments from Fed officials that there may not be a need for further rate hikes given the rise in long-term yields, and the port sector becoming a safe-haven asset following a monetary policy clash. He said this was due to comments from traders who were looking for. Hamas and Israel.
Traders are currently waiting for key US inflation figures to be released today, October 11th. Investors are also keeping an eye on developments surrounding the conflict between Israel and the Palestinian Islamic group Hamas. Meanwhile, the euro rose 0.3% against the US dollar to $1.0604.
Analysts also said the decline in U.S. yields initially reflected comments from Fed officials that there may not be a need for further rate hikes given the rise in long-term yields, and the port sector becoming a safe-haven asset following a monetary policy clash. He said this was due to comments from traders who were looking for. Hamas and Israel.
Traders are currently waiting for key US inflation figures to be released today, October 11th. Investors are also keeping an eye on developments surrounding the conflict between Israel and the Palestinian Islamic group Hamas. Meanwhile, the euro rose 0.3% against the US dollar to $1.0604.
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