A hardening perception that the U.S. recovery is lagging Europe has buttressed the euro, which has repelled a rebound in the dollar and rose back above $1.18 on Wednesday. Sterling, the Australian dollar and the kiwi all climbed back toward pre-pandemic highs, while the yen rose and gold soared as real yields plumbed record lows. The Australian dollar led gains among the majors with a 0.4% rise to $0.7189. Ten-year Australian government debt now yields about 31 basis points more than 10-year U.S. government debt, up from 16 basis points two months ago. The New Zealand dollar rose 0.3% to $0.6646, catching some support from a surprise dip in the jobless rate.

Source: The Guardian August 05, 2020 07:18 UTC