The dollar settled near its lowest level in a month on Wednesday as strong demand in a US bond auction led to a broad drop in Treasury yields and curtailed the interest rate advantage that the greenback enjoyed against other major currencies.<\/p>\n\n\n\n
In early trading in London, the dollar rose 0.1% against a basket of rival currencies, to 91.75, its lowest level since March 19.<\/p>\n\n\n\n
The US currency reached a four-and-a-half-month high of 93.43 at the end of March but has fallen nearly 2% since then as Treasury yields fell.<\/p>\n\n\n\n
The dollar weakened further, due to inflationary pressures that showed US consumer prices rose 2.6% in March, the highest pace in more than eight and a half years.<\/p>\n\n\n\n
The dollar was particularly fragile against the yen and euro as the single currency threatens to rise above the psychologically important $ 1.20 level for the first time since early March.<\/p>\n\n\n\n
The New Zealand dollar rose 0.4% to $ 0.7086 after the country’s central bank kept the official interest rate and asset purchase program unchanged as expected.<\/p>\n\n\n\n
On the cryptocurrency front, Bitcoin hit a record $64,895, before the Coinbase cryptocurrency platform was listed on Nasdaq on Wednesday.<\/p>\n","protected":false},"excerpt":{"rendered":"
The dollar settled near its lowest level in a month on Wednesday as strong demand in a US bond auction led to a broad drop in Treasury yields and curtailed the interest rate advantage that the greenback enjoyed against other major currencies. In early trading in London, the dollar rose 0.1% against a basket of …<\/p>\n","protected":false},"author":9,"featured_media":31172,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6827,49,36],"tags":[7211,6877,6928,6882],"class_list":["post-44403","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","category-market-updates","tag-currencies","tag-dollar","tag-euro","tag-forex"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/44403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=44403"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/44403\/revisions"}],"predecessor-version":[{"id":44404,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/44403\/revisions\/44404"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31172"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=44403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=44403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=44403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}