Foreign-exchange markets took a risk-averse turn Thursday, sending the Canadian dollar to its weakest against the greenback in almost two years and Australia’s currency close to the lowest since the early months of the COVID-19 pandemic.
Foreign-exchange markets took a risk-averse turn Thursday, sending the Canadian dollar to its weakest against the greenback in almost two years and Australia’s currency close to the lowest since the early months of the Covid pandemic.
The new lows come ahead of a widely anticipated Federal Reserve meeting next week, with greenback gaining versus most its Group-of-10 peers aside from the Swiss franc, euro and Danish krone Thursday. The dollar strengthened as Treasury yields climbed ahead of next week’s Federal Reserve meeting. The policy-sensitive two-year rate was up as much as eight basis points at 3.87 per cent, the highest since 2007, deepening the curve inversion.
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