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Live Trading News > Blog > Forex > AUD > US Dollar Heading Toward 5 Month Lows
AUD

US Dollar Heading Toward 5 Month Lows

Paul Ebeling
Last updated: June 2, 2021 8:45 am
Paul Ebeling
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#dollar #Fed #FX

$USD $DXY $EUR $CNY $GBP $AUD $NZD $BTC $ETH

The Buck clung to minor gains Wednesday, edging up from a 5-month low Vs peers, as a pickup in US manufacturing kept bets alive for a quicker normalization of Fed policy.

.DXY measures the Buck against 6 peers is hanging just below 90 after dipping to as low as 89.662 Tuesday as it moves towards the lowest since 7 January at 89.533.

EUR traded at 1.22 after pulling back from near a multi-month Top overnight, when it climbed to 1.22545.

Investors were also eyeing the trajectory of China’s recently Bullish RMB Yuan. It was little changed at 6.3823/dollar in offshore trading, after retreating from a 3 yr high of 6.3526 Monday as policymakers took steps to cool its advance including raising banks’ FX reserve requirements.

Sterling remained lower at $1.4135 after easing off a 3-yr high of 1.4250 reached Tuesday, while the Canadian dollar traded at C$1.20675 per Buck after rallying to a fresh 6-yr high of C$1.2007 overnight as Crude Oil prices rose.

The  Australian and New Zealand dollars fell, down 0.4% and 0.5% respectively Vs the Buck

Cryptocurrency Bitcoin traded 1% higher, just above the 37,000 mark, while Ether traded 1.5% higher at 2675.71.

Have a healthy day, Keep the Faith!

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TAGGED:.DXYAUDBTCCNYdollarETHFedFXGBPUSD

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By Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   
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