The US Dollar, on Tuesday, February 7, saw a recovery against the major currencies in late Asian trade, with prices on pace to deliver the largest advance in three weeks.
The move tracked a jump in front-end US Treasury bond yields, hinting that a pickup in Fed rate hike speculation may be the catalyst at work. US President Trump’s move to weaken the Dodd-Frank bank regulation framework may be behind the move, DailyFX reports.
A number of other currencies also found support, though none proved as buoyant as the greenback.
The Japanese Yen rose as most Asian stock exchanges slumped, boosting demand for the standby anti-risk unit. The Aussie Dollar gained as the RBA poured cold water on lingering rate cut bets.
The New Zealand Dollar jumped after an estimate of businesses’ two-year inflation expectations hit a 1.5-year high.
