Dollar slips on euro as lower U.S. yields give markets a breather ✔️ Stratford Management Tokyo Japan

October 4, 2022
Posted by: Stratford Team
Category: Economy

LONDON, Oct 4 (Reuters) – The dollar slid on Tuesday, as U.S. Treasury yields paused in a relentless climb higher, providing brief relief to share markets and helping the euro in particular move further off multi-year lows.

The Australian dollar was also in focus, sinking after the nation’s central bank surprised markets with a smaller-than-expected interest rate hike.

The euro was last up 0.67% at $0.9889, a moderate recovery from its 20-year low of $0.9528 on Sept. 26, while sterling was up a touch at $1.1337, off a record low of $1.0327 also hit Sept. 26.

A calmer British government bond market was a relief for the pound after recent government-inspired turmoil. In a statement on Monday, the Bank of England reaffirmed its willingness to buy long-dated gilts and the head of Britain’s debt management office, overseeing the bond market, told Reuters in an interview the market was resilient.