Business
Aussie hits fresh three-year highs against the US dollar, close to 80 US cents – Sydney Morning Herald
Dovish testimony from Federal Reserve Chair Jerome Powell bolstered bets of reflation and fears of inflation in the world’s largest economy, driving the US dollar…
The Fed staying the course has reinforced optimism in the economic outlook, boosting currencies with close ties to global growth. While the dollar has lost steam, its decline has been slowed by elevated Treasury yields, said Joe Manimbo, senior market analyst at Western Union Business Solutions.
The US dollars weakness in recent days has been more remarkable as it comes against the backdrop of a broader rise in government bond yields. Benchmark 10-year borrowing costs are holding near their highest…
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