U.S. treasury yields are rising and we've seen that support the dollar across the board. The dollar remains strong on the back of solid U.S. economic data and expectations that the 10-year yield is going to continue to go higher.
U.S. payroll numbers are unlikely to give the dollar upward momentum, even if the numbers are good. Market sentiment toward the U.S. economy is worsening, buffeted by recent weaker data.
U.S. multinationals are still spending most of their R&D dollars here in the U.S. -- about 90 percent. It could shift, but it has not shifted yet. Where the link is weaker that just because a firm does its R&D here by no means means it's obligated to do its production in the U.S.
We're still short several hundred dollars so we're seeking additional support.
We're still going to get Japanese rates at zero for some time yet. The Fed continues to underpin the view that more rate hikes are highly probable, and yield premiums favor the dollar in the short term.
We're still expecting the Fed to hike one more time and take a pause. The momentum for dollar weakening has been established and is well-entrenched.
We're still at the Brickyard, right? It's all corporate dollars and we all have to do what we can to put food on the table.
We're seeing some last-minute dollar strength, but there's really nothing much to it considering we're completely dead in terms of economic releases.
We're seeing relative strength in (metals and minerals). There are a lot of base commodities prices that are trading at higher levels right now. The fact that the (Canadian) dollar is as low as it is has made our metals sector more competitive than they would at higher levels.
We're seeing problems in dollar-yen, but I don't have a good explanation why the dollar is getting hit so hard.