Dollar gains as Treasury yields top 5%, Aussie slides after RBA hike
The dollar rose against major currencies as Treasury yields hovered near multi-year highs and investors awaited US PCE and payrolls data. The Australian dollar weakened after the Reserve Bank of Australia raised rates as expected.
Oil retreats; US yields hit fresh peaks Inflation, payrolls data loom European currencies under pressure, euro at bottom of range Aussie struggles even after RBA delivered expected hike (New throughout, updates headline and adds analyst comment) By Chibuike Oguh NEW YORK, Sept 29 (Reuters) — The dollar rose against major currencies on Tuesday as investors positioned for economic data that could offer clues on the Federal Reserve's interest-rate path, with Treasury yields hovering near multi-year highs. The Australian dollar weakened after the Reserve Bank of Australia raised interest rates as expected.
The greenback remained near multi-month highs as the benchmark 10-year Treasury yield settled above 5%. Investors were also monitoring concerns about crude supply disruptions linked to the Middle East conflict, which kept Brent crude trading above $100 a barrel. 13365, a three-month low, as the currency struggles in the face of a global energy shock and growing political risk in Europe. "At this point, we're just going data point to data point," said Eugene Epstein, head of trading and structured products at Moneycorp.
834 against the Swiss franc, trading at a 16-month high. Saudi Arabia has resumed oil loadings from its Red Sea port of Yanbu after restarting operations on the East-West Pipeline, according to trade sources and shipping data, improving the outlook for Middle East oil exports. 56 a barrel. Us Economic Data In View Investors are awaiting August's Personal Consumption Expenditures (PCE) index on Wednesday, which is closely watched by the Fed, followed by September's nonfarm payrolls report on Friday.
Markets now see a near 70% chance of a rate hike by the Federal Reserve at the end of October. 39, hitting its highest level since July 28. 60% on Tuesday in a unanimous decision, saying inflation was too high and it was prepared to hike further if needed. 6989.
55 per dollar with markets weighing recent warnings of probable coordinated intervention from Tokyo and Washington. com)