US Dollar sinks as King Dollar falls off its pedestal

Share:

•  The Greenback slides to a one-month-low. 
• US yields, which were the main driver for the Greenback rally, are now turning against the US Dollar. 
• The US Dollar Index is at risk of having its worst week in over three months. 

The US Dollar (USD) is getting gutted by the markets after US yields soared to a new multi decade high. It almost sounds Shakesperian as it was those same yields that have supported the summer rally in the Greenback from July up until mid-October. As yields in the 10-year benchmark breached the psychosocial 5% level, the Greenback got sold across the board and made the US Dollar Index incur its biggest intraday loss since July.