Last Updated on 06/10/2026
- The US Dollar maintains its strength against major currencies, supported by firm US Treasury yields.
- Selling pressure on US bonds remains strong as concerns over persistent inflation continue to weigh on sentiment.
- Investors are turning their attention to the FOMC minutes from the September meeting, due to be released on Wednesday.
The US Dollar (USD) remains broadly supported against its major currency counterparts as US Treasury yields stay elevated amid ongoing concerns over persistent inflation.
At the time of writing, the US Dollar Index (DXY), which tracks the Greenback against six major currencies, is trading around 0.1% higher near 102.20. The index remains close to Monday’s yearly peak of 102.54. Meanwhile, the 10-year US Treasury yield has climbed 0.24% to approximately 5.32%, approaching its fresh two-decade high of 5.35% reached on Monday.
US Dollar Price Today
The US Dollar continues to outperform most of its major counterparts, with the British Pound showing the weakest performance against the Greenback.
Selling pressure in US Treasury bonds remains elevated despite softer-than-expected September Nonfarm Payrolls (NFP), which has prompted traders to reduce expectations for an aggressive Federal Reserve (Fed) tightening cycle. Markets are increasingly focusing on the inflation outlook when assessing the Fed’s future interest-rate decisions, with price pressures remaining a key concern.
Societe Generale’s Kenneth Broux noted that the weaker payrolls report has further reduced expectations for near-term Fed tightening. However, the data has not fundamentally changed the central bank’s hawkish stance, as inflation remains a major concern. The latest employment figures instead support a more cautious approach to the timing and scale of potential future policy adjustments.
Investors will look to the Federal Open Market Committee (FOMC) minutes from the September meeting, due for release on Wednesday, for additional clues about the Fed’s monetary policy direction.
Meanwhile, the latest US economic data offered little support, with the September ISM Services Purchasing Managers’ Index (PMI) coming in at 54.9, below the 55.0 market forecast and down from the previous reading of 55.4.
US Dollar Index Technical Analysis
On the daily chart, the Dollar Index is trading around 102.14. The short-term outlook remains bullish, with the index holding firmly above the 20-day Exponential Moving Average (EMA) at 100.96. This reinforces the ongoing upward trend following the recovery above the 100.00 level.
The 14-day Relative Strength Index (RSI) stands at 76.10, firmly within overbought territory. This indicates strong bullish momentum but also suggests that the recent advance may be becoming stretched.
On the downside, the June 24 high at 101.80 represents the first key support level, followed by the 20-day EMA near 100.96. To the upside, the yearly high of 102.54 remains the main resistance level to watch.
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