DXY Dollar Index Slips on Treasury Yield Dip and Mixed Data in Asia. Can USD Get a Grip?

DXY Dollar Index Slips on Treasury Yield Dip and Mixed Data in Asia. Can USD Get a Grip?

The US Dollar was softer in Asia today as Treasury yields pulled back from last week's peak. US 5-year Treasury yield went to 1. 21% in Asia after trading at 1. 27% near the end of last week. The US Dollar index (DXY) was down around 0. 2% after last week's run up due to the whopping US CPI overshoot lifting Treasury yields. USD was weakest against the AUD and CHF today. USD/JPY was steady due to weak Japanese data. Japanese seasonally adjusted GDP came out below expectations at -0. 8% for the third quarter and -3. 0% annualised against forecasts of -0. 2% and -0. 7% respectively. Later in the day, industrial production figures were released and printed at -5. 4% for the month of September and -2. 3% year on year. Supply chain impacts appear to be taking a toll. In the wash-up, the Yen was a bit weaker, JGBs rallied and Japanese stocks were up a touch. Hong Kong and Chinese equities were weaker despite some strong data. Property developers are in focus as they remain under stress. Many companies are scrambling to raise cash and consequently have been selling assets and/or raising capital to repair their