During the Asian session, RBA Deputy Governor Kent will deliver a speech. Additionally, Japan will release its Machinery Tool Orders report. Later in
the day, the key reports to watch for will be the US Producer Price Index and the release of the FOMC minutes. Here is what you need to know on Wednesday, October 11: The US Dollar lost ground again as the improvement in market sentiment continued, and US yields remained far from recent highs. The 10-year yield settled at 4.65%, while the 2-year yield slipped below 5%. The DXY index posted its lowest daily close since September 18, dropping below 106.00.
0600 and faces key resistance at 1.0630. Germany will release the final CPI for September on Wednesday. GBP/USD also rose above the 20-day SMA. The rally faded near 1.2300, but short-term momentum still favors the Pound. The Japanese yen was the underperformer on Tuesday among G10 currencies. The modest rebound in yields combined with rising equity prices weighed on the currency. USD/JPY peaked above 149.00 but then pulled back to 148.60. AUD/USD rose for the fifth consecutive day.
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