AIRLINK 69.92 Increased By ▲ 4.72 (7.24%)
BOP 5.46 Decreased By ▼ -0.11 (-1.97%)
CNERGY 4.50 Decreased By ▼ -0.06 (-1.32%)
DFML 25.71 Increased By ▲ 1.19 (4.85%)
DGKC 69.85 Decreased By ▼ -0.11 (-0.16%)
FCCL 20.02 Decreased By ▼ -0.28 (-1.38%)
FFBL 30.69 Increased By ▲ 1.58 (5.43%)
FFL 9.75 Decreased By ▼ -0.08 (-0.81%)
GGL 10.12 Increased By ▲ 0.11 (1.1%)
HBL 114.90 Increased By ▲ 0.65 (0.57%)
HUBC 132.10 Increased By ▲ 3.00 (2.32%)
HUMNL 6.73 Increased By ▲ 0.02 (0.3%)
KEL 4.44 No Change ▼ 0.00 (0%)
KOSM 4.93 Increased By ▲ 0.04 (0.82%)
MLCF 36.45 Decreased By ▼ -0.55 (-1.49%)
OGDC 133.90 Increased By ▲ 1.60 (1.21%)
PAEL 22.50 Decreased By ▼ -0.04 (-0.18%)
PIAA 25.39 Decreased By ▼ -0.50 (-1.93%)
PIBTL 6.61 Increased By ▲ 0.01 (0.15%)
PPL 113.20 Increased By ▲ 0.35 (0.31%)
PRL 30.12 Increased By ▲ 0.71 (2.41%)
PTC 14.70 Decreased By ▼ -0.54 (-3.54%)
SEARL 57.55 Increased By ▲ 0.52 (0.91%)
SNGP 66.60 Increased By ▲ 0.15 (0.23%)
SSGC 10.99 Increased By ▲ 0.01 (0.09%)
TELE 8.77 Decreased By ▼ -0.03 (-0.34%)
TPLP 11.51 Decreased By ▼ -0.19 (-1.62%)
TRG 68.61 Decreased By ▼ -0.01 (-0.01%)
UNITY 23.47 Increased By ▲ 0.07 (0.3%)
WTL 1.34 Decreased By ▼ -0.04 (-2.9%)
BR100 7,394 Increased By 99.2 (1.36%)
BR30 24,121 Increased By 266.7 (1.12%)
KSE100 70,910 Increased By 619.8 (0.88%)
KSE30 23,377 Increased By 205.6 (0.89%)
Markets

Australia, NZ dollars weaken ahead of US central bank meeting

  • US intermediate-dated Treasury yields rose on Monday after the Treasury Department sold $121 billion in debt to mixed demand, but benchmark 10-year yields were only 1 basis point higher at 1.570%.
Published April 27, 2021

SYDNEY: The Australian and New Zealand dollars fell against the greenback on Tuesday, as caution reined in markets ahead of the Federal Reserve's monetary policy meeting on Wednesday.

The Australian dollar was last down 0.21% at $0.7784, partially offsetting gains of half a cent in the previous day's session, which were underpinned by near-record high iron ore prices.

The currency faces resistance at $0.7816 it reached last week, but analysts believe it would likely continue to benefit from strong commodity prices in the near future.

"The close above 0.7790 is an important one and, if sustained, suggests that this move can extend towards the February highs at 0.80," Westpac Banking Corp strategists said.

The New Zealand dollar fell 0.17% to $0.7224 after gaining almost half a cent on Tuesday to $0.7236, its highest level since March 18.

The Kiwi dollar has been a beneficiary of strong commodity prices and weakness in the US dollar, which on Tuesday was hemmed into a narrow range as traders avoided taking big positions before the bond auction and Fed meeting.

US intermediate-dated Treasury yields rose on Monday after the Treasury Department sold $121 billion in debt to mixed demand, but benchmark 10-year yields were only 1 basis point higher at 1.570%.

Australian government yields on 10-year bonds matched that, adding 1 basis point to 1.69% on Tuesday.

New Zealand government bonds fell slightly, sending yields about 1 basis points higher across the curve. Ten-year bond yields were 4 basis points higher at 1.62%.

Comments

Comments are closed.