Dollar Strengthens as Strong US Economic Data Boosts Yields

Reported 1 day ago

The dollar rose on Wednesday following robust US economic data that increased yields and reduced expectations for Federal Reserve rate cuts. The yen weakened to its lowest point against the dollar in nearly six months, prompting cautions from Japanese officials against speculative selling. Meanwhile, the euro and sterling also saw declines. Strong US job openings and rising inflation indicators led to a shift in market sentiment, pushing bond yields up and reflecting confidence in the US economy compared to struggles faced by currencies in Australia and New Zealand.

Source: YAHOO

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