U.S. Dollar Rides to Two-Decade Highs as Yields Rise

Senin, 09 Mei 2022 | 18:14 WIB
U.S. Dollar Rides to Two-Decade Highs as Yields Rise
[ILUSTRASI. FILE PHOTO: One hundred dollar notes are seen in this photo illustration at a bank in Seoul January 9, 2013. REUTERS/Lee Jae-Won/File Photo]
Reporter: Sumber: Reuters | Editor: Thomas Hadiwinata

KONTAN.CO.ID - LONDON. The U.S. dollar climbed to a two-decade high on Monday as rising U.S. Treasury yields prompted hedge funds to add to their bullish bets while the Chinese yuan weakened below 6.77 levels after weak trade data.

The latest leg of the dollar's rise, which began after the Federal Reserve raised interest rates by 50 bps last week, has hit currencies that had previously been immune to broad dollar rallies, including the Australian dollar, the yuan and even cryptocurrencies.

Against a basket of major currencies, the dollar =USD topped 104.19 on Monday for the first time since July 2002, extending its almost 9% rise this year.

While it trimmed gains to 103.87 in mid-London trading on reports of some emerging market central banks intervening to support their currencies, the dollar's uptrend looked intact, said traders. "It has been a one-way street all morning with Treasury yields nearing the 3.2% levels and the dollar benefiting from that," a trader at a European bank in London said.

Baca Juga: German Bond Yields at Multi-Year Highs, Italy’s Risk Premium Rises

Treasury yields extended their rise for a third consecutive session with yields on benchmark 10-year debt pushing further above 3% to fresh 3-1/2 years. They have doubled in the past two months. "It is hard to go against the current momentum for higher yields and U.S. dollar strength in the near term," Mizuho strategists said in a daily note.

Even though the peak in U.S. interest rates in the current hiking cycle is seen at around 3.5% in mid-2023, the speed of the Federal Reserve's rate hiking cycle is far greater than its peers at the Bank of England and the European Central Bank.

In the euro zone, recent hawkish comments by policymakers have prompted investors to start repricing rate expectations even though projected rate hikes in Europe will lag the United States by a big margin.

Money markets expect the United States to raise interest rates by another 200 bps during the remainder of the year, taking benchmark rates to nearly 3%, while a projected 92 bps of hikes by the ECB will just take its benchmark deposit rate into positive territory. 

Baca Juga: Indonesia's Economy Stays on Growth Path in Q1 as Price Pressures Loom

The Fed hiked its benchmark funds rate by 50 basis points last week and strong jobs data has reinforced bets on further big hikes, with inflation figures due on Wednesday in focus as the next opportunity for an upside surprise.

Latest weekly positioning data suggests yet more upside for the dollar with net long bets still nearly half below their peak in late 2014.

The growth-sensitive Australian dollar AUD=D3 fell 1% to $0.6999, its lowest since February. Sterling GBP=D3 and the New Zealand dollar hit 22-month lows, while the euro and yen were barely above recent major troughs.

China's yuan extended losses to close at a near 19-month low as sluggish April trade data reaffirmed market worries that COVID-19 induced lockdowns across the country are taking a toll on economy.

Cryptocurrencies have been battered in the rush from risky assets. Bitcoin was nursing weekend losses and near its lowest levels of the year at $33,500 while ether, which fell 4% on Sunday, was at $2,440.

Bagikan

Berita Terbaru

Menadah Peluang dari Aksi Jual Asing
| Sabtu, 07 Juni 2025 | 09:32 WIB

Menadah Peluang dari Aksi Jual Asing

Beberapa saham yang terkena aksi jual asing dalam sepekan terakhir ini, masih dapat dicermati untuk trading jangka pendek

Emiten Memperluas Diversifikasi Bisnis
| Sabtu, 07 Juni 2025 | 09:25 WIB

Emiten Memperluas Diversifikasi Bisnis

 Sejumlah emiten mulai dari sektor teknologi, kesehatan, hingga energi, memperluas bisnis dengan membentuk anak usaha baru.

Prospek Saham DSNG yang Siap  Menebar Dividen Rp 24 Per Saham
| Sabtu, 07 Juni 2025 | 09:23 WIB

Prospek Saham DSNG yang Siap Menebar Dividen Rp 24 Per Saham

PT Dharma Satya Nusantara Tbk (DSNG) akan membagikan dividen tunai sebesar Rp 254,39 miliar dari buku tahun 2024.

Strategi Mega Perintis (ZONE) Bertahan di Bisnis Fesyen
| Sabtu, 07 Juni 2025 | 09:19 WIB

Strategi Mega Perintis (ZONE) Bertahan di Bisnis Fesyen

Mengupas rencana bisnis perusahaan ritel fesyen, PT Mega Perintis Tbk (ZONE) di tengah persaingan industri yang ketat

PMI yang Terkontraksi Tampaknya Tak Berpengaruh ke Emiten-Emiten Ini
| Sabtu, 07 Juni 2025 | 09:00 WIB

PMI yang Terkontraksi Tampaknya Tak Berpengaruh ke Emiten-Emiten Ini

Potensi kontraksi PMI masih dapat berlanjut, terlebih jika pasca negosiasi tarif dalam 90 hari tidak mendapatkan keputusan win-win.

Profit 27,96% Setahun, Harga Emas Antam Hari Ini Anjlok (7 Juni 2025)
| Sabtu, 07 Juni 2025 | 08:26 WIB

Profit 27,96% Setahun, Harga Emas Antam Hari Ini Anjlok (7 Juni 2025)

Harga emas Antam hari ini (7 Juni 2025) Rp 1.904.000 per gram. Di atas kertas pembeli setahun lalu bisa untung 27,96% jika menjual hari ini.

Membawa Metrodata Menjadi Raksasa
| Sabtu, 07 Juni 2025 | 08:20 WIB

Membawa Metrodata Menjadi Raksasa

Susanto Djaja adalah sosok yang sudah teruji memimpin bisnis Metrodata dan mengenal dengan baik kultur bisnis perusahaan.

Pilah-Pilih Valas Saat Dolar AS Cemas
| Sabtu, 07 Juni 2025 | 07:45 WIB

Pilah-Pilih Valas Saat Dolar AS Cemas

OECD memangkas perkiraan pertumbuhan ekonomi AS yang semula sebesar 2,2% di tahun 2025, menjadi 1,6% dan turun ke 1,5% pada 2026. 

Menangkap Kilau Berlian Buatan
| Sabtu, 07 Juni 2025 | 07:00 WIB

Menangkap Kilau Berlian Buatan

Berlian hasil laboratorium atau lab grown diamond sukses menggaet pasar muda yang luas dengan harga jauh lebih murah

Baramulti Suksessarana (BSSR) Menebar Dividen Tunai dan Mengganti Komisaris
| Sabtu, 07 Juni 2025 | 06:50 WIB

Baramulti Suksessarana (BSSR) Menebar Dividen Tunai dan Mengganti Komisaris

Dividen akan dibayarkan selambat-lambatnya 30 hari kalender kepada pemegang saham yang tercatat pada recording date 19 Juni 2025.

INDEKS BERITA

Terpopuler