Dollar Up but at Seven-Week Low as US Bond Yields Soften By Investing.com – Investing.com

Dollar Up but at Seven-Week Low as US Bond Yields Soften By Investing.com – Investing.com

© Reuters.

By Gina Lee

Investing.com – The dollar inched up on Wednesday morning in Asia but remained near multi-week lows as subdued U.S. bond yields also diminished the U.S. currency's yield appeal.

The that tracks the greenback against a basket of other currencies inched up 0.01% to 91.40 at 12:37 AM ET (4:37 AM GMT) but was at a seven-week low.

The pair inched up 0.01% to 108.09.

The pair edged down 0.16% to 0.7711 and the pair inched down 0.07% to 0.7168.

The pair inched up 0.02% to 6.4493 while the pair edged down 0.11% to 1.3920.

The dollar did get some support, however, as global shares pulled back from record highs as COVID-19 numbers continue to soar globally and put paid to expectations of a quick economic recovery.

The dollar index "has broken down through a key short-term support level at 91.30 and can see further downside to the low 90s," with the euro rising to around $1.22, Westpac analysts in a note.

"We were looking for the [index] to top in the third quarter, when second derivative U.S. rebound measures crest and Europe gets her vax act together, but the early indications are that vaccinations across Europe are