HSBC Strategist Maher: US Dollar Limited Rise with High Bond Yields

Daragh Maher, HSBC’s senior currency strategist, described the relationship between the US dollar and rising bond yields as "uncertain" during the Bloomberg Surveillance program. Maher emphasized that the dollar’s rise is not directly linked to the increase in bond yields, suggesting that the currency’s performance can develop independently of yield movements. Given the high bond yields, Maher noted that the dollar is unlikely to "hit the park," meaning a strong rally in the currency is not expected. For market participants, the key is to continue monitoring how changes in bond yields may impact dollar movements. This view does not constitute investment advice.

📊 USD — Piyasa Yorumu

■ neutral · 55%

HSBC strategist Maher argues that the dollar will likely see only a modest increase in the face of elevated bond yields. Technical indicators show the price trading below the 20‑day moving average yet above the 50‑day moving average, while the MACD remains below its signal line. The RSI hovers around 60, indicating that the currency is neither in an overbought nor oversold zone. These data suggest that, in the short term, the dollar may either decline slightly or trade sideways. Market participants may therefore keep their bullish expectations restrained, maintaining a stance of cautious volatility.

RSI 14

59.8

MACD

1.68

24h Δ

10.01%