The dollar was steady against its peers on Wednesday, as the recent bounce in U....
TOKYO - The dollar was steady against its peers on Wednesday, as the recent bounce in U.S. bond yields stalled on increasingly dovish rhetoric from global central banks.
The dollar index against a basket of six major currencies was little changed at 97.313, having lost some traction after climbing a 3-1/2-week peak of 95.517 the previous day. “Major central banks are embracing dovish rhetoric, which supports ‘risk on’ in the markets. The yen stands to remain on the defensive under such conditions,” said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo.
The Australian dollar, which declined significantly after the RBA policy decision on Tuesday, extended losses to stand at $0.7057, down 0.2 percent on the day.Sterling had edged up 0.25 percent the previous day after Prime Minister Theresa May said she would seek another Brexit delay to agree an EU divorce deal with the opposition Labour leader, a last-ditch gambit to break an impasse over Britain’s departure.
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