The dollar found support on Wednesday, as a jump in U.S. yields pushed it higher against the Japanese yen and investors wagered on a broader and deeper U.S. coronavirus recovery.
FILE PHOTO: Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking
Elsewhere in financial markets, focus was on the political holdup in Washington over a new stimulus package, which capped broader investor sentiment. “That is reflected in the rotation in equities into more cyclical sectors and plays into the idea that U.S. Treasury yields should be higher, reflecting that improvement in prospects for the global recovery,” he said.
It last sat at 93.654. Against the euro the greenback was steady at $1.1740 and against the Australian dollar it was firm just below a one-week high at $0.7147. “The committee can ill-afford to be complacent, and need to underscore that they will do what it takes. We thus expect a very dovish tone, which poses significant downside risks for the New Zealand dollar.”
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