Media ININ Economy We Trust
Media In-Agencies 3-12-2018
The dollar saw a tumble on Tuesday as US Treasury yields fell to a three-month low, prompting investors to worry about a possible cut in interest rates during the US central bank session.
US 10-year Treasury yields fell to 2.94 percent on Tuesday, their lowest level since mid-September.
The yield gap between two-year US bonds and 10-year bonds narrowed to its lowest level since July 2017.
The dollar index, which measures the strength of the US currency against six major currencies, fell 0.23 percent to 96.8.
The dollar fell 0.5 percent against the yuan on the foreign market to 6.8375. The US currency lost 1.07 percent on Monday, its biggest percentage decline since Aug. 25.
The AUD benefited from a wide sell-off of the USD, rising 0.2% in Asian trading to $ 0.7368.
The Reserve Bank of Australia kept the key monetary interest rate unchanged today in a move that was widely expected.
Sterling has suffered losses over the past three weeks, as traders bet that British Prime Minister Teresa May will not be able to get parliament’s approval of the EU exit agreement on Dec. 11
