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US Dollar Index and Treasury Yields Regain Strength on August 30

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Aug. 30 2017, Updated 8:41 a.m. ET

US Dollar Index

After pulling back last week, the US Dollar Index started this week on a weaker note by falling on Monday. After touching the lowest levels since January 2015 on Tuesday, the US Dollar Index rebounded and started August 30 on a stronger note. In the early hours on Wednesday, US Dollar Index is trading with strength above the opening prices.

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Market sentiment

The market sentiment for the US Dollar Index was weak at the beginning of the week amid the stronger euro and geopolitical tensions amid North Korea’s missile launch. Concerns about how Hurricane Harvey damaged the US economy also limited the dollar’s recovery. On Tuesday, the US dollar started to recover as the US responded to North Korea’s missile launch. The US provided an official statement without any threats. With improved global market sentiment, the US dollar regained strength and rebounded from two and half year low levels.

At 6:20 AM EST today, the US Dollar Index is trading at 92.49—a gain of 0.26%.

US Treasury yields

After pulling back last week, US Treasury yields carried the weakness forward and fell on Monday. Amid geopolitical tensions, Treasury yields fell on Tuesday but started to rise as North Korean tensions subsided. On Wednesday, US Treasury yields started the day on a stronger note and traded with strength in the early hours.

Movement in Treasury yields 

The movement in Treasury yields at 6:30 AM EST on August 30 was:

  • The ten-year Treasury yield was trading at 2.134—a fall of ~0.07%.
  • The 30-year Treasury yield was trading at 2.741— a fall of ~0.27%.
  • The five-year Treasury yield was trading at 1.713—a gain of ~0.32%.
  • The two-year Treasury yield was trading at 1.329—a gain of ~0.33%.

The iShares 20+ Year Treasury Bond ETF (TLT) rose 0.32%. The ProShares UltraPro Short 20+ Year Treasury ETF (TTT) and the ProShares UltraShort 20+ Year Treasury ETF (TBT) fell 1.2% and 0.64%, respectively, on August 29.

In the next part, we’ll discuss how commodities are performing in the early hours on August 30.

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