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Risk currencies, bitcoin recover as yields steady

admin by admin
March 1, 2021
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Risk currencies, bitcoin recover as yields steady
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LONDON (Reuters) – The Australian greenback and different riskier currencies rebounded towards the U.S. greenback on Monday as U.S. Treasuries recovered from final week’s losses.

FILE PHOTO: Australian {dollars} are seen in an illustration picture February 8, 2018. REUTERS/Daniel Munoz

The benchmark 10-year U.S. bond traded at 1.4153%, nicely off Thursday’s one-year excessive of 1.614%.

“The bond market and threat property are displaying indicators of stabilisation after the large sell-off final week”, ING analysts commented, anticipating that “the greenback’s corrective rally ought to pause for breath”.

Equities and commodities offered off final week because the debt rout unsettled buyers and lifted demand for safe-haven currencies, together with the U.S. greenback. [MKTS/GLOB]

Early at this time, the risk-friendly Australian greenback jumped 0.5% to $0.7743 following a 2.1% plunge on Friday.

The Reserve Financial institution of Australia will maintain its month-to-month coverage assembly on Tuesday, and markets anticipate it to bolster its ahead steerage for 3 extra years of near-zero charges.

The New Zealand greenback strengthened 0.46% to $0.7259, recovering a few of Friday’s 1.9% slide.

The greenback index rose 0.26% to 91.02 after posting its largest surge since June on Friday.

The euro fell 0.12% to $1.2056, after dropping 0.9% on the finish of final week, probably the most since April.

Stress has been rising on the European Central Financial institution to behave towards rising yields within the euro zone. Merchants will concentrate on a speech later this afternoon by President Christine Lagarde.

“There may be little doubt in my thoughts that central banks will finally lean fairly laborious towards a sustained rise in yields. They merely can’t afford to see it occur with debt so excessive”, Deutsche Financial institution strategist Jim Reid advised his purchasers in a morning be aware.

The British pound drew further assist from bets on a sooner vaccine-led financial restoration. Resurgent threat urge for food pushed the safe-haven Japanese yen to a six-month low versus the greenback.

Sterling rose 0.17% to $1.3945.

Towards the yen, the greenback hit a six-month excessive of 106.70.

In cryptocurrency markets, bitcoin rose 4% to $47,069 however was nonetheless off a document excessive of $58,354.14 hit on Feb. 21.

Reporting by Julien Ponthus, modifying by Larry King



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