Dollar given boost by US Treasury yields

Published: 4 Jun at 2 PM Tags: Euro, Dollar,

The dollar is at a one-month high against the yen after this week’s rise in US Treasury yields. The increase has also pushed the dollar up against the euro and the pound. Analysts are now waiting to see whether the European Central Bank will introduce measures to support growth within the eurozone.

Among the European currencies the main winner is the Swedish crown. The crown has been driven higher by reports that industrial output was up during April following a dip in March.

The dollar is currently up 0.2 per cent against its Japanese rival at 102.665 yen and has clawed back 0.1 per cent against the euro to $1.36115. Against the pound the greenback has gained 0.2 per cent to $1.6713.

As with elsewhere in the European Union there have been concerns over the Swedish economy. However, industrial production during April rose by 3.0 per cent. This has helped to ease some jitters, although the currency is still close to a one-year low against the dollar and the euro.

The Australian dollar has also been given a slight lift by data that shows the Aussie economy grew at a faster rate than expected during the first three months of the year. The Aussie is currently worth $0.9266.