Tuesday, September 23, 2014

U.S. dollar weakened

The U.S. dollar weakened against its major counterparts on Tuesday, as U.S. treasury yields fell amid bargain hunting, as well as on expectations that the U.S. Federal Reserve would not raise rates quickly given the recent weak economic data.
The 10-year Treasury yield fell 0.76 percent to 2.547 percent, while yields on 30-year Treasuries were at 3.271 percent, a 0.54 percent decrease. The yield falls when bond prices rise.
Data from the National Association of Realtors showed that U.S. existing home sales fell unexpectedly by 1.8 percent in August, halting four months of gains. According to a report from Chicago Federal Reserve, manufacturing activity in the U.S. weakened in August, with the national activity index based on a survey declining to -0.21 in the month from a positive reading of 0.26 in the previous month.