U.S. Dollar Falls On Return Of Risk Sentiment

2022.10.18 17:37

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The fell against majority of its peers on Monday except versus yen as a rally in global equities triggered the return of risk sentiment. Elsewhere, sterling rallied across the board as newly appointed Finance Minister Jeremy Hunt signaled a U-turn on UK’s mini-budget.   
  
Versus the , dollar found renewed buying at 148.42 in New Zealand and gained to 148.80 in Asia. The pair then rose marginally to 148.89 in European morning before edging higher to a fresh 32-year peak of 149.08 in New York afternoon on cross-selling in yen.  
  
The moved sideways in Asia before edging down to 0.9721 in European morning. The pair then jumped in tandem with cable at New York open and rose to an intra-day high at 0.9852 in New York morning on broad-based USD’s weakness due to return of risk sentiment.  
  
The opened higher in New Zealand on weekend news from newly appointed Finance Minister Jeremy Hunt and gained to 1.1305 at European open. The pair then found renewed buying at 1.1225 in European morning and rallied to an intra-day high at 1.1440 in New York morning as Hunt cancelled out most of the UK mini-budget before retreating to 1.1345 on profit taking.  

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