Yesterday, with no major economic reports to focus on, attention shifted to rising yields, which continued to push the USD higher. The 10-year yield climbed 12 basis points, reaching 4.19%. Before the Fed’s 50 basis point rate cut in September, the yield had dropped to a low of 3.605%. Since then, it has risen by 59 basis points. The USD/JPY surged by 2 cents, nearing 151, while the EUR/USD edged closer to last week’s low of 1.0809.
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