The US dollar current tradeoff is retreating, with the dollar index (DXY) increasing for two days. Higher US Treasury yields, having the 2-year UST offered at 4.484%, while the 10-year trades at 4.065% sustains the USD.
US Treasury yields are raised from comments from Neel Kashkari, a Fed board member. He pointed out yesterday that unless the fight against inflation shows positive results, interest rate rises may surpass the 4.5% or 4.75% range.
Despite the positive impact that higher US Treasury yields make on the greenback, gold prices retreat into fragile support. The Higher US interest rates and Treasury yields continue to be a solid headwind for gold.
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