Treasury bonds rally as dollar index sinks to 98.8
U.S. treasuries climbed while the dollar bond index dropped to an intraday low of 98.8, signaling a notable swing in risk sentiment across global markets.Gate data shows U.S. Treasury bond prices rising as the DXY falls intradayThe dollar index touched 98.8, slipping below the 100 base level for the benchmarkMoves come as markets reassess Fed policy, inflation path and demand for safe assets According to Gate market data, U.S. Treasury bonds “continue to rise” while the U.S. dollar index, DXY, “has fallen to an intraday low,” currently quoted at 98.8 against a base value of 100. The move underlines a familiar macro trade: investors buying Treasuries as a haven while the dollar softens against a basket of major currencies. The DXY is a reference index that tracks the dollar against six peers, including the euro, yen and pound, with 100 set as the benchmark level when the index was created in 1973. A reading of 98.8 implies the dollar is trading roughly 1.2% below that base, extending a decline that recently saw the index oscillate around the 99 to 101 range as traders reacted to shifting Federal Reserve expectations. Bonds bid as dollar slips Rising U.S. Treasury prices imply falling yields, a notable shift
