US Dollar Weakens Broadly After Japan's Yen Intervention, Boosting Antipodean Currencies

Japanese intervention to boost the yen significantly weakened the US dollar across the board, helping the Australian dollar reach a six-week high of $0.7033 and the New Zealand dollar a two-month high of $0.5882. This broad decline in the greenback provided a timely reprieve for other currencies. While local inflation reports tempered rate hike expectations for Australia, New Zealand is still expected to raise rates in September. A weaker US dollar internationally could potentially support gold prices in Pakistan, while also influencing the USD/PKR exchange rate.

بحوالہ / Source: www.brecorder.com