Markets are watching auctions for a record 104 billion dollars of treasure notes
Kathy Lien is quoted in todays Channel News Asia article, US Dollar Wobbles as Fed Meeting Opens.
GFT's Lien had this to say:
"The reason why currency traders are watching these auctions is because of its scale and also because it will shed some light on investors' willingness to fund the US large and growing budget deficit," she said.
"The auctions will be a big hurdle for the US dollar this week because if demand comes up short, the dollar could get hit but it is not that simple because at the same time, weak demand could drive up yields, which is dollar positive."
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