Falling equities and stationary Treasury yields have kept the defensive pressure on the dollar against all of it major trading partners in New York forex trading. The euro touched 1.3361 from a low of 1.3264, the yen reached 95.12 from 97.07 and the sterling climbed to 1.5703 from 1.5630. The Dow had fallen 110 points at 2:36 pm, its worst level of the day. The yield on the 10-year Treasury was holding at 2.2099 at 2:37 pm, mid-way between the day's high of 2.2262% and low 2.1650%. Treasury yields have been the focus of all three markets since the comments of Fed Chairman Bernanke on the longevity of the central bank's quantitative easing program of $85 billion a month Treasury and MBS purchases.
CurrentMarket Bids: 1.3332, 95.66, 1.5679