Powell's Speech and Job Data in Focus as Dollar Climbs on Yield Surge

U.S. Treasury yields are bolstering the dollar, putting pressure on low-yielding currencies like the Japanese yen and Chinese yuan. This trend is driven by expectations of a Trump presidency leading to higher tariffs and government borrowing. Investors are closely watching Federal Reserve Chair Jerome Powell’s upcoming speech and U.S. job openings data for further market direction. The dollar index has risen, while the euro has retreated slightly following the French election results. Analysts suggest that Powell’s potentially optimistic stance on disinflation could pose downside risks for the dollar.