Wednesday, 28 Apr 2021 09:51 AM MYT
The greenback's decline stemmed largely from receding bets that the Federal Reserve could start laying the ground work for a future policy tightening soon. Investors' inflation expectations, measured by break-even inflation rate calculated from US inflation-linked bonds, rose above 2.40 per cent yesterday, the highest level since 2013.
The dollar/yen pair edged up in tandem with rises in US bond yields on the back of US inflation expectations. The Japanese currency slipped even against lower-yielding European currencies, hitting a 2-1/2-year low versus the euro, at 131.515 per euro and a five-year low on the Swiss franc, at 119.20 per franc.
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