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Risk currencies rally on strong bond auction - MarketPulse


Risk currencies rally on strong bond auction
Posted 3 hours agoSharePrint
US dollar under pressure as yields soften
The flip-flop price action in equities markets has also been reflected in currency markets to a lesser extent, mainly amongst the risk-sensitive Commonwealth’s and regional Asian currencies. A hawkish Bank of Canada saw USD/CAD plummet to 1.0% to 1.2495 overnight, as the BoC trimmed its QE programme, making it the first G-7 central bank to tighten policy since the Covid pandemic.
The Australian and New Zealand dollars also added 0.30% and 0.50%, respectively, versus the greenback. Both have staged bullish falling wedge topside breakouts, initially targeting 0.8000 and 0.7300. ....

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