Perceptions that Japanese interest rates would not be rising much appeared to reverse earlier concerns about an end to carry trades, which supported the Australian dollar.
More Quotes from John Kyriakopoulos:
It's more of the same, with the perception that carry trades are being unwound, and that Japanese bond yields rose further today probably added to that trend.John Kyriakopoulos
The Reserve Bank may shift to a very mild tightening bias which won't be enough to support the Australian dollar while the Fed is pushing up rates.
John Kyriakopoulos
The news on the Australian economy has been far from upbeat. A benign consumer price index report will make the likelihood of another RBA rate hike disappear completely and this will potentially weigh on the Australian dollar.
John Kyriakopoulos
While commodity prices have been rising Australia's interest rate spread has been narrowing.
John Kyriakopoulos
The Australian dollar is being hurt by the rise in global bond yields, driven by expectations all three major central banks will be raising interest rates this year. This is hurting commodities.
John Kyriakopoulos
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