Dollar retreats on soft US PMIs, bond yields tumble ========== The US ISM Manufacturing PMI in February fell to 47.8, way below estimates of 49.5, and 49.1 previously. US Bond yields tumbled, with the 10-year rate settling at 4.18% (4.25%). The 2-year US treasury rate slumped 11 basis points, finishing at 4.53%. The Dollar Index (USD/DXY), which measures the value of the Greenback against a basket of 6 major currencies, retreated below the 104 level to 103.87 at the New York close. The Australian Dollar (AUD/USD) rebounded against the Greenback, settling at 0.6525 (0.6500). New Zealand’s Kiwi (NZD/USD) rallied 0.3% to 0.6105 from 0.6085 Friday. Sterling (GBP/USD) climbed to 1.2660 (1.2620). The Euro (EUR/USD) edged up 0.25% to 1.0840 (1.0807 Friday). The Japanese Yen weakened past the 150 Dollar mark. The USD/JPY pair finished at 150.12 (149.90 Friday). Wall Street stocks gained. The DOW climbed to 39,050 from 38,880 Friday while the S&P 500 added 0.79% to 5,133 (5,080 Friday). Other economic data released Friday saw the Eurozone January Unemployment Rate dip to 6.4%, against forecasts at 6.5%, unchanged from 6.4% previously. China’s February Caixin Manufacturing PMI climbed to 50.9 from 50.8 previously, beating estimates at 50.6. #Dollar #UsPmis #BondYields https://www.fxstreet.com/analysis/dollar-retreats-on-soft-us-pmis-bond-yields-tumble-202403040330