The U.S. currency teetered near a two-month low against the Australian dollar and a two-year low against the New Zealand dollar, both considered barometers of risk sentiment due to their close ties with the global commodities trade.
The dollar stood at $1.1901 against the euro on Wednesday in Asia, close to a two-week low. The British pound bought $1.3363, close to the highest in more than two months. Against the yen, the dollar held steady at 104.48. Improving risk appetite means the Australian dollar’s next target is its high of $0.7413 on Sept. 1. The New Zealand dollar, which has rallied 5.6% so far this month, is trading just shy of its strongest since June 2018.
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