The greenback found broad support on Tuesday amid the geo-political, and economi...
TOKYO/SINGAPORE - The greenback found broad support on Tuesday amid the geo-political, and economic uncertainties cast by the attacks on Saudi oil facilities, while the Australian dollar was sharply sold after a dovish readout from the central bank.
The dollar rose to its strongest since Aug. 1 against the yen, touching 108.36 yen, helped also by U.S. President Donald Trump announcing he’d struck trade agreements with Tokyo. “Like any price shock, people go: ‘What the hell has happened? What do we make of that...it didn’t really spill over to currency markets like we might have expected.”
The biggest major mover among major currencies was the Australian dollar, which dropped 0.4% to an 11-day low, dragging the New Zealand dollar with it, after the Reserve Bank of Australia flagged an easing bias in meeting minutes. Traders widely expect the Fed will cut interest rates by a quarter of a percentage point on Wednesday.
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