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.
More Quotes from John Kyriakopoulos:
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.John Kyriakopoulos
Heightened concerns over inflation risks in the U.S. and a consequent monetary policy-induced slowdown in economic growth are keeping U.S. dollar bulls in check.
John Kyriakopoulos
Heightened inflation concerns could curb expectations of an easing from the Reserve Bank in the near term.
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It plays to the risks of the Reserve Bank of New Zealand cutting rates earlier than its current track suggests.
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Around 75 cents is the sell zone, which is close to the 100-day moving average which provided a bridge too far over the past nine months.
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The Fed is still going to 5 percent and therefore Australia's yield advantage will continue to narrow.
John Kyriakopoulos
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