The dollar is losing value

The belief that the Fed has reached its peak in interest rates continues to be the dominant theme in the markets for the new week. While stock markets started the week positively, the dollar is losing value.

The Japanese Nikkei 225 stock index tested its highest level in 33 years this morning. As the Hong Kong Hang Seng and China's CSI 300 joined the rally, the MSCI Asia Pacific Index is preparing to close at its highest level in the last two months.

Futures on the S&P 500, which exceeded 4,500 points on Friday, are trading flat.

While the dollar is losing value against the currencies of developed countries, the Bloomberg Dollar Index, which fell 0.4 percent on Friday, is retreating by another 0.2 percent this morning. The MSCI EM FX Index, which measures the performance of emerging market currencies against the dollar, has reached its highest level since February.

Following the People's Bank of China's increase in its daily reference rate, the offshore yuan reached its strongest level against the dollar since August. US bond yields are also retreating due to high risk appetite. The 10-year yield is at the 4.445 percent level.

News Source: 12punto