How Bond Yields are Driving the Forex Market?

The bond market has begun to recover from the recent market sell-off, inducing a fall in the US Treasury yields. Last week, the sudden rise in the US bond yields soothed the enthusiasm of stock participants around the world, causing a sharp sell-off in the bond market.

As the US dollar weakened, relatively riskier currencies like the Australian dollar rebounded, with the AUD/USD pair climbing to a daily high of 78.3 cents on Tuesday. In addition to easing of the US dollar’s demand, the Reserve Bank of Australia’s recent decision to keep interest rates unchanged at 0.1% gave a slight uptick to the Aussie dollar.

 


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