US Dollar Index and Treasury Yields Are Weaker on July 21


Jul. 21 2017, Updated 11:16 a.m. ET

US Dollar Index

Last week, the US Dollar Index fell to the lowest levels in ten months. This week, it opened on a stable note and gained on Monday. However, the US Dollar Index lost its strength on July 18 after Congress repealed the health care bill to replace Obamacare. The US Dollar Index fell to almost one-year low price levels amid political concerns in the US.

On Friday, the US Dollar Index started the day with a weaker sentiment. It traded with weakness in the early hours on July 21. The US dollar fell lower on Thursday after Bloomberg reported about Robert Mueller’s investigation on President Trump. As a part of the U.S. Office of Special Counsel’s investigation into President Trump’s ties to Russia in the 2016 presidential election, Mueller is expanding his investigation to President Trump’s business transactions. The market is looking forward to second quarter US GDP data. The data will be released next week.

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US Treasury yields

After falling in the first two trading days this week, US Treasury yields regained some stability on Wednesday. However, yields continued to fall on Thursday amid concerns about the investigation on President Trump’s business transactions. Amid dented sentiment, Treasury yields are falling to lower levels in the early hours on Friday.

  • The ten-year Treasury yield was trading at 2.243—a fall of ~1.02%.
  • The 30-year Treasury yield was trading at 2.812—a fall of ~0.86%.
  • The five-year Treasury yield was trading at 1.806— a fall of ~0.91%.
  • The two-year Treasury yield was trading at 1.348—a fall of ~0.85%.

The iShares 20+ Year Treasury Bond ETF (TLT) rose 0.29%. The ProShares UltraPro Short 20+ Year Treasury ETF (TTT) fell 1.7%, while the ProShares UltraShort 20+ Year Treasury ETF (TBT) fell 0.56% on July 20.

In the next part, we’ll discuss how crude oil, copper, and precious metals performed in the early hours on July 21.


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