Dollar weakens as US yields, oil prices fall
Investors have sought refuge in the US dollar amid market volatility driven by the Middle East war and AI investment frenzy, partly because of US energy independence.
The US dollar wavered as US yields and oil prices dropped, according to market data. In Tokyo, Tuesday saw the greenback remain relatively stable at 101.78 after a 0.2% decline. The next day, the dollar weakened further as Treasury yields and crude oil prices fell, reducing the currency's attractiveness. The Australian dollar approached a three-week peak against the US dollar, with the Reserve Bank of Australia's Deputy Governor hinting at potential further rate hikes next month due to deteriorating inflation prospects.
The Aussie climbed 0.1% to US$0.7013, just below its previous day's peak of US$0.7017. Despite its status as a perceived safe-haven currency amid global unrest, the US dollar's appeal waned due to the aforementioned yield and oil price declines.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Dollar on back foot as US yields, crude prices dip; Aussie buoyed by hawkish RBA channelnewsasia.com
- Dollar weakens as US yields, oil prices fall freemalaysiatoday.com
- Aussie Dollar breaks 0.70 as RBA inflation warning fuels two-week high fxstreet.com
