U.S. Treasury Yields, Dollar Retreat; Investors Await Fed Minutes
Dow Jones
Aug 19
0939 GMT - U.S. Treasury yields and the dollar ease as investors take a breather after Tuesday's bond selloff and ahead of the Fed's minutes later in the day. "The U.S. dollar retreated on Wednesday toward its previous low as Treasury yields pulled back to some extent," Tapaas' Jonathan Squires says in a note. However, the dollar could remain under pressure as monetary-policy expectations have softened, he says. Markets currently assign a 67% probability for unchanged policy rates at the Federal Reserve's September meeting, according to LSEG. Longer-dated Treasury yields meanwhile remain near multiyear highs as fiscal spending remains a concern. The DXY dollar index falls 0.2% to 99.452. The 10-year Treasury yield eases 0.8 basis points to 4.697%, according to Tradeweb.
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