That is keeping the dollar in a decent spot today and we are seeing gains extend that bit more in European morning trade. EUR/USD is now down 0.3% to 1.0775 while GBP/USD is down 0.5% to 1.2380 with the greenback also gaining ground against the commodity currencies.
Despite higher Treasury yields, USD/JPY is holding its ground though with the pair down 0.1% to 138.45 at the moment. There is that bit of divergence but technically, the pair is still looking poised to extend the upside break above 138.00 and towards the 140.00 mark next.
The dollar’s strength is also translating to the precious metals space with gold down 0.7% to $1,956 currently and silver tumbling by over 2% lower to $23.13 – falling past its 100-day moving average of $23.38.