The dollar rose to its highest level in two and a half months. This reflects expectations that the Federal Reserve will reduce the pace of interest rate cuts, as well as investors changing their positions in anticipation of the US presidential election.
The dollar index against major currencies rose 0.12% to 104.08. At one point, it hit 104.10, the highest level since August 2nd. The index rose by around 3.3% month on month and remains at its highest level since April 2022.
The US presidential election continues to affect movements in the exchange rate, and there is an opinion that if former President Trump, the Republican presidential candidate, returns, there is a strong possibility that he will act policies that lead to higher inflation, such as the introduction of tariffs It has been rising for a few days.
The euro fell 0.15% to $1.0798. European Central Bank (ECB) policymakers gave a series of speeches on the day, warning of the risk of inflation falling below the central bank’s 2% target.
The dollar rose 0.17% against the yen to 151.08 yen. At one point, it hit 151.19 yen, the highest price since July 31.
NY Foreign Exchange Market:
Government bond yields rose. Demand for US Treasuries has weakened due to hedging ahead of the US presidential election on November 5 and expectations that the Federal Reserve will ease its dovish stance, with the 10-year Treasury yield at one point peak in three months.
Bond prices have come under pressure as expectations grow that former President Donald Trump, the Republican candidate, will win the presidential election, and that Trump’s policies, such as tariffs and restrictions on imports, will accelerate illegal migration, inflation.
The benchmark 10-year bond yield rose 2.2 basis points (bp) to 4.204%. At one point, it reached 4.222%, the highest level since July 26.
The two-year bond yield rose 1 basis point to 4.035%.
Mi Financial Bond Market ・:
US stock market:
Demand for gold as a safe-haven asset increased amid growing uncertainty over the US presidential election and the situation in the Middle East, and prices rose for a sixth consecutive day. The settlement price (equivalent to the closing price) for the main December contract was $2,759.80 an ounce, up $20.90 (0.76%) from the previous day, breaking the day’s all-time high before.
NY Precious Metals:
Concerns about supply disruptions due to ongoing tensions in the Middle East and expectations from China, a major energy consumer, are still seen as buying factors, with prices continuing to rise. The settlement price (equal to the closing price) in the main month of the US WTI standard oil contract in November was $72.09 per barrel, an increase of $1.53 (2.17%) from the previous day. The December contract rose $1.70 to $71.74.
NYMEX Energy:
This is a provisional value based on LSEG data. Maybe the comparison from the previous day doesn’t fit.
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2024-10-22 22:31:00
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