AUDUSD: The dollar is on track for another weekly gain amid econ
The dollar has trended higher for the second consecutive week, supported by a strong domestic economy and the central bank's cautious stance on interest rate cuts. The dollar index, which measures the currency against a basket of six major rivals, rose 0.9% this week to 103.4. The dollar has appreciated about 5% against the yen this year, and the exchange rate currently stands at 148.12 yen.
Risk sentiment-sensitive Australian and New Zealand dollars rose 1.7% and 2%, respectively, and are poised for their biggest weekly gains since November and June. ,beginning%. The probability that the US will cut interest rates in March has decreased, with market odds falling to 57% from 75% the previous week. The change in expectations follows strong U.S. jobs data, with jobless claims at their lowest level in about a year and a half, putting pressure on the market to cut back. Interest fee. The two-year Treasury yield, which reflects expectations for short-term interest rates, rose 22 basis points to 4.35%.
Risk sentiment-sensitive Australian and New Zealand dollars rose 1.7% and 2%, respectively, and are poised for their biggest weekly gains since November and June. ,beginning%. The probability that the US will cut interest rates in March has decreased, with market odds falling to 57% from 75% the previous week. The change in expectations follows strong U.S. jobs data, with jobless claims at their lowest level in about a year and a half, putting pressure on the market to cut back. Interest fee. The two-year Treasury yield, which reflects expectations for short-term interest rates, rose 22 basis points to 4.35%.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.