SYDNEY : The dollar was below key support levels on Thursday, having hit new lows overnight, after data showing U.S. consumer prices rose at their fastest rate in nearly 40 years was not deemed worrying enough to change an already hawkish rates outlook.
Risk-sensitive currencies benefited. The Australian dollar rose more than 1per cent, its best percentage gain since October, and zoomed through its 50-day moving average to an almost two-month top of US$0.7292. [AUD/] "I don't think it was anything within the components of the CPI that caused the market to take a sigh of relief," said NatWest markets' strategist Jan Nevruzi in a note.
Sterling, which has been rallying as traders reckon Britain's economy can survive a surge in COVID-19 cases and that the Bank of England is going to get started on rate hikes as soon as next month, is testing its 200-day moving average at US$1.3708.
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