Following yesterday slide, the US dollar was steady on most majors and clung on near a two-week low against a basket of currencies, tracking the mood in equity markets. — Reuters pic
The Australian dollar pulled back from a one-month high after the country's second-most populous state announced six weeks of stay-at-home restrictions and a lockdown for the city of Melbourne to curb rising cases. Investors are watching nervously as infections surge in the United States and India, but are so far taking the view that more massive lockdowns are unlikely.
“If we were to suddenly see signs of a sell-off in the Treasury market, that could have big implications for where global capital sits. Until that point, it's onwards and upwards,” Weston said. “Just do what's working and carry on buying.” The euro sat just below a two-week high touched yesterday at US$1.1311 and the pound held steady at US$1.2505. The yen was flat at 107.36 per dollar.
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