The dollar hovered near recent peaks and U.S. Treasuries held steady on the morning of Nov. 3 as investors await an expected Federal Reserve announcement later in the day about tapering the central bank’s massive bond-buying scheme. The DXY dollar index, which tracks the greenback against a basket of major rivals, traded largely unchanged on the day at 94.055 by 6:12 a.m. New York time, close to its 2021 peak of 94.563 hit last month. The benchmark 10-year U.S. Treasury yields were steady at 1.530 percent at 6:12 a.m. New York time, down slightly from last month’s recent top of 1.7 percent. After the Federal Reserve concludes its two-day policy meeting later in the day, investors widely expect officials to announce the start of a gradual wind-down of the central bank’s asset-buying program. With Fed officials repeatedly hinting at an imminent liftoff in their plans to start reducing the bond buys, …
Dollar Hovers Near Recent Highs, Bonds Steady, Ahead of Expected Fed Stimulus Rollback Announcement
November 3, 2021
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