The USD is strong in generally quiet holiday trading.China’s PMI came in at 51, slightly below both expectations of 51.2 andNovember’s release of 51.4; but still in expansionary territory. The US 10 year yield reached 3.05%, a two and a half yearhigh, forcing the steepening in the US yield curve to a multi year high of2.65% (10‐2yr). Data today includes jobless claims andmanufacturing ISM.
Read the full report: FX Daily
Scotiabank