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DXY, stocks rebound, AUD steadies – RBA hawkish hold
The Dollar Index (USD/DXY), which weighs the value of the Greenback against a basket of 6 major currencies rebounded to 102.95 (102.70). US Stocks led by the S&P 500 soared following a rout which began this week. The USD/JPY pair stabilized to finish at 144.75 (144.00) as Yen carry trades were unwound. Yen carry trades, ie borrowing at low rates in Japan to fund purchases of higher yielding assets elsewhere, were unwound following the Yen’s strong rally against the US Dollar earlier this week. The Australian Dollar (AUD/USD) steadied to 0.6525 (0.6510) after the RBA left rates on hold but warned that inflation ... (full story)
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- Posted: Aug 7, 2024 12:47am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,420
