US dollar dollar on the defensive as yields fall

Bid in Treasuries undermines dollar

US 10-year yields are down 4.5 bps to 1.69% and that’s spilling over into FX where the dollar is slumping.

AUD/USD has nearly erased its entire decline on the day. It’s trading down 5 pips to 0.7593 from a low of 0.7532.

Bid in Treasuries undermines dollar

The Canadian dollar is a spot to watch today with the OPEC+ decision coming. WTI is at the highs of the day, up $1.44 to $60.60 after touching $58.97 because the introductory OPEC+ comments urged caution.

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