Summary
The Greenback weakened across the board after Fed Chair Jerome Powell reiterated the central bank’s easing bias despite a delay. Powell ruled out the possibility of a rate hike. The Fed kept its Fed Funds rate unchanged at 5.50%.
The Dollar Index (DXY), a popular gauge of the Greenback’s value against a basket of 6 major currencies, slid to 105.37 from 105.57. US bond yields fell, the 10-year closed at 4.58% (4.62%).
Against the Japanese Yen, the US Dollar tumbled to 153.65 from 156.10 yesterday. Suspected intervention from Japan Inc and broad-based USD weakness boosted the Japanese currency.
The Aussie Battler (AUD/USD) extended its rally against the Greenback, edging up to 0.6565 from 0.6535 yesterday. Positive market sentiment favored the risk-leading Australian Dollar. New Zealand’s Kiwi (NZD/USD) climbed to 0.5960 from 0.5930.
Sterling (GBP/USD) climbed to 1.2535 from 1.2525 yesterday. The…
