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Australia, NZ dollars resilient as US yields surge
The Australian and New Zealand dollar were resilient on Tuesday, even after US yields spiked to 16-year highs, bolstering the greenback, while local bonds faced renewed selling pressure. The Aussie was mostly flat at $0.6418, after slipping 0.3% overnight to $0.6404. It has been tracking sideways between 64 cents and 65 cents for the past two weeks, demonstrating some resilience as it manages to hold above its 2023 low of $0.6358. The kiwi dollar was standing at $0.5968, having eked out a small gain of 0.1% overnight, helped by bets that local rates may have to rise further. It faces resistance at 60 cents and ... (full story)
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- Posted: Sep 26, 2023 1:33am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,309
