The Antipodean currencies also rose a little and against a basket of currencies the dollar was at its lowest since September 2018. — Reuters pic
The Antipodean currencies also rose a little and against a basket of currencies the dollar was at its lowest since September 2018. “The common factor is the ongoing decline in US yields,” said Ray Attrill, head of FX strategy at National Australia Bank in Sydney. They have fallen as the bond market prices a slow US recovery, robbing the dollar of a dependable attraction.
The Australian dollar took advantage and edged ahead in spite of a rise in local coronavirus cases, climbing to US$0.7120. The New Zealand dollar rose 0.3 per cent to US$0.6657. Elsewhere, investors are also beginning to fret about US political deadlock over the next round of fiscal stimulus with a month-end deadline looming to extend some unemployment benefits.