The Dollar was mixed in N.Y., though remained inside of relatively narrow trading ranges. The DXY topped at 90.53 early in the session, later hitting at low of 90.41 before steadying near 90.45. There was no data to drive markets on Monday. Focus has shifted to Wednesday’s FOMC meeting and press conference, where risks are for a less dovish, more hawkish spin: yields cheapened on Monday as the FOMC comes into focus. After last week’s rally that knocked longer rates to better than 3-month lows, bonds are highly susceptible to a hawkish twist from this week’s meeting.

The dollar has remained firmer versus most other currencies, trading in a typically narrow early-week range within a whisker of one-month highs by the measure of the DXY narrow trade-weighted index. This has been concurrently with the 10-year U.S. Treasury yield trading a few basis points above last week’s three-month lows under 1.430%. The benchmark yield, to recap, dropped by nearly 15 bp last week, despite May CPI out of the U.S. coming in hotter than expected at a 13-year high of 5.0% y/y.

The dollar has remained firmer versus most other currencies, trading in a typically narrow early-week range within a whisker of one-month highs by the measure of the DXY narrow trade-weighted index. This has been concurrently with the 10-year U.S. Treasury yield trading a few basis points above last week’s three-month lows under 1.430%. The benchmark yield, to recap, dropped by nearly 15 bp last week, despite May CPI out of the U.S. coming in hotter than expected at a 13-year high of 5.0% y/y.