US dollar pushes higher ahead of Congress meeting

14:21 2 January 2019
The US dollar has reversed all its earlier losses and has entered a positive territory during European trading hours. At the same time, the US 10Y yield has moved back to below 2.65% mirroring a higher demand for safe haven assets. Investors are impatiently awaiting the US Congress meeting scheduled for Wednesday as both chambers are returning from a New Year’s Day break. This will be an important convention given that Democrats will take control of the House on Thursday. The USD index is trading 0.4% higher at 1:20 pm GMT with the largest gain against the SEK. The Japanese yen is the sole major currency being able to resist USD strength.

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