Dollar nurses pullback as traders glimpse rate peaks - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

The dollar nursed its biggest losses for years on Wednesday, after a dovish central bank surprise in Australia had investors wondering whether a peak is in sight for global interest rates.

Overnight the US dollar fell about 1.6% on the euro to test parity at $0.9999 and 1.3% against sterling to $1.1490.It is down more than 4% since hitting a 20-year peak last week.

On Tuesday, the Reserve Bank of Australia hiked interest rates only 25 basis points when markets had been priced for a better-than-even chance of 50 bps, triggering a sharp bond rally and a reduction in peak cash-rate expectations.

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