Sun. Dec 4th, 2022

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Buoyant dollar holds near six-week high

1 min read
Dollar bills

A resurgent dollar held on to sharp gains on Tuesday after virus fears and worries over delays in fresh U.S. stimulus drove a wave of selling in just about every other asset market.

A public holiday in Japan kept moves in the Asia session modest and calmer trade in equity markets also took some of the pressure off riskier currencies.

Investors are looking to the London open for their next cues. U.S. Federal Reserve Chair Jerome Powell’s appearance with Treasury Secretary Steven Munchin at a congressional committee from 1430 GMT is also on the radar.

Against a basket of six major currencies the dollar held at 93.519, just below a six-week high hit on Monday.

The Japanese yen, which fell from a six-month peak as greenback gains gathered pace, edged up to 104.57 per dollar.

The Australian dollar recovered from a dip when a senior central banker mentioned negative rates as a policy option in a speech to trade steady at $0.7223.

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