US Dollar nurses pullback as traders glimpse rate peaks

From brecorder.com

The dollar nursed its biggest losses for years on Wednesday, after a dovish central bank surprise in Australia had investors wondering whether a peak is in sight for global interest rates. Overnight the US dollar fell about 1.6% on the euro to test parity at $0.9999 and 1.3% against sterling to $1.1490. The US dollar index fell 1.3%, its biggest drop since the wild pandemic market of March 2020. It is down more than 4% since hitting a 20-year peak last week. The Aussie and yen were a bit left behind, as was the New Zealand dollar with markets wary the Reserve Bank of New Zealand may also deliver a dovish surprise ... (full story)