AUD, NZD Fall as Strong Dollar, Hawkish Fed Outlook Weigh

The Australian and New Zealand dollars suffered significant weekly losses, hitting multi-week lows as surging US yields strengthened the greenback. Markets are pricing in a high probability of further rate hikes by the Federal Reserve, with 90 basis points of tightening expected by mid-next year. This hawkish outlook also fuels expectations for RBA and RBNZ hikes to counter rising import inflation. A stronger US dollar, driven by hawkish Fed expectations, typically exerts downward pressure on international gold prices and could influence USD/PKR rates.

بحوالہ / Source: www.brecorder.com