Investing.com – The dollar eased from two-month highs against a basket of major currencies as U.S. bond yields retreated from multi-year highs but sentiment on the greenback remained positive amid upbeat economic data.
The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell 0.13% to 90.57 after hitting an intraday high of 90.85.
The hit 3% for the first time since 2014 but the move above the key psychological level was met with resistance, pressuring the benchmark treasury yield to retreat below 3%, dragging the greenback lower.
The fall in treasury yields came despite data pointing to underlying strength in the U.S. economy after a raft of reports on housing and consumer confidence topped expectations, while manufacturing fell short.
The Commerce Department said Tuesday new home sales to a seasonally adjusted annual rate of . That topped economists’ forecasts for 1.9% to 625,000 units.
The rose to a reading of 128.7 from 127.0 the previous month, topping economists’ forecast for a reading of 126.
The Richmond Fed manufacturing in April from its March reading of 15, undershooting economists’ estimates for a reading of 16.
The S&P/Case-Shiller 20-city home price index rose a seasonally adjusted 0.8% in February, and
Elsewhere, rebounded from a recent slump to trade at $1.3973, up 0.23%.
rose 0.21% to $1.2235 despite investor concerns the European Central Bank could opt for a more cautious outlook on monetary policy tightening at a meeting this week.
tacked on 0.06% to Y108.77, while fell 0.15% to C$1.2830 as the latter pair came under pressure after the ongoing rally in prices underpinned the .
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