The U.S. dollar eased back from earlier highs on Thursday, as 10-year Treasury yields continued to climb.<\/p>\n
The\u00a0<\/span>U.S. dollar index<\/a><\/span>, which measures the greenback\u2019s strength against a basket of six major currencies, fell 0.37% to 95.32 as of 11:08 AM ET (15:08 GMT).<\/p>\n The yield on the benchmark\u00a0<\/span>10-year Treasury note<\/a><\/span>\u00a0<\/span>rose to levels not seen since 2011 after upbeat economic data and hawkish comments from Fed Chairman Jerome Powell bolstered expectations of an interest rate increase in December.<\/p>\n The yield was up 1.36% to 3.204% after jumping almost 4% in the previous session.<\/p>\n Fed Chairman Jerome Powell said Wednesday that the U.S. central bank may raise interest rates above an estimated “neutral” setting as the U.S. economy continues to grow.<\/p>\n \u201cInterest rates are still accommodative, but we\u2019re gradually moving to a place where they\u2019ll be neutral,\u201d neither holding back nor spurring economic growth, Powell said.<\/p>\n \u201cWe may go past neutral. But we\u2019re a long way from neutral at this point, probably,\u201d he added.<\/p>\n Data this week showed that private sector hiring increased at the fastest pace in seven months in September while weekly jobless claims numbers fell to an almost 49-year low.<\/p>\n Elsewhere the euro recovered due to the weaker dollar while sterling surged amid reports that the European Union and the UK are in the final Brexit negotiation stages.<\/p>\n EUR\/USD<\/a><\/span>\u00a0<\/span>increased 0.39% to 1.1522 and\u00a0<\/span>GBP\/USD<\/a><\/span>\u00a0<\/span>rose 0.70% to 1.3030.<\/p>\n The dollar slid lower against the yen, with\u00a0<\/span>USD\/JPY<\/a><\/span>\u00a0<\/span>down 0.69% to 113.74.<\/p>\n The Australian dollar was lower, with\u00a0<\/span>AUD\/USD<\/a><\/span>\u00a0<\/span>down 0.20% to 0.7090, while\u00a0<\/span>NZD\/USD<\/a><\/span>\u00a0<\/span>fell 0.21% to 0.6499 and\u00a0<\/span>USD\/CAD<\/a><\/span>\u00a0<\/span>rose 0.01% to 1.2870.<\/p>\n","protected":false},"excerpt":{"rendered":" The U.S. dollar eased back from earlier highs on Thursday, as 10-year Treasury yields continued to climb. The\u00a0U.S. dollar index, which measures the greenback\u2019s strength against a basket of six major currencies, fell 0.37% to 95.32 as of 11:08 AM ET (15:08 GMT). The yield on the benchmark\u00a010-year Treasury note\u00a0rose Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[9,10,1],"tags":[],"class_list":["post-1000","post","type-post","status-publish","format-standard","hentry","category-homepage","category-latest-news","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1000","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/comments?post=1000"}],"version-history":[{"count":1,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1000\/revisions"}],"predecessor-version":[{"id":1001,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1000\/revisions\/1001"}],"wp:attachment":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/media?parent=1000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/categories?post=1000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/tags?post=1000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}