The US dollar edged higher against the Japanese Yen this morning and set a fresh four-month high. The greenback was supported by a rise in US Treasury yields suggesting a more upbeat outlook for the world’s largest economy.
The US 10-year bond yield has climbed about 15 basis points this week, putting it on track for the biggest weekly rise in more than 3 months.
But stock markets appeared to be largely unfazed by the latest rise in US yields…. The Dow Jones Industrial Average and the Nasdaq Composite both ended 0.2 percent lower…. while In New York, the S&P 500 was down by 0.1 percent. However, London’s FTSE 100 rose 0.7 per cent to a record close.