The US Dollar Index (DXY) loses ground for a third straight day on Friday as a sell-off in technology stocks drives investors toward government bonds, pushing Treasury yields lower and weighing on the Greenback. Next week’s US midterm elections add to the cautious mood.
Rabobank's Senior Macro Strategist Bas van Geffen highlights that Oil prices have reached their highest level since April as markets focus on potential renewed escalation in the US-Iran conflict after US midterm elections.
The Japanese Yen (JPY) is giving back previous gains against the US Dollar (USD) on Friday, and Bank of Japan (BoJ) Governor Kazuho Ueda’s comments have failed to support the Japanese currency.