IFO Business Climate

The U.S. dollar pushed higher as rising Treasury yields and a firmer Federal Reserve outlook shaped trading across major currency pairs. EUR/USD and GBP/USD stayed under pressure, while USD/CAD and USD/JPY tested important resistance areas.

The U.S. dollar strengthened as Treasury yields climbed and weekly jobless claims came in below expectations. Major pairs including EUR/USD, GBP/USD, USD/CAD and USD/JPY remained under pressure as traders assessed bond-market volatility and the outlook for Federal Reserve policy.

The U.S. dollar was broadly flat after CB Consumer Confidence fell short of expectations and New Home Sales weakened more than forecast. EUR/USD found support from stronger German sentiment, while USD/CAD retreated and USD/JPY advanced despite lower Treasury yields.