The decline in US bond yields has prompted a decline in greenback dollar trading, leaving room for most major currencies to re -climb today.
The benchmark US 10 -year bond yield slipped from 1.6% recorded on Monday, hovering around the 1.56% level at the opening of the European session.
While the dollar index that measures the strength of the greenback dollar traded lower at 92.05, but remained strong around a 3 -month high against a basket of major currencies.
Following the depreciation of the US dollar, euro trading returned to record gains although price movements were still under pressure.
Meanwhile, investors in the European session will be shown the publication of the final reading of European gross domestic product (GDP) growth for the last quarter of 2020 this afternoon.
In addition, the pound also gained momentum to rise following the decline of the greenback dollar, with the price movement now targeting the 1.39000 level.
Meanwhile, the drastic fall in equity markets during the Asian session, particularly tech stocks, has prompted Chinese authorities to intervene by buying stocks to help stabilize the market. Nasdaq futures traded higher after suffering on Monday.
