The US dollar nursed losses today as surging commodity currencies paused for breath and a rising yen pointed to investor trepidation over the U.S. Federal Reserve’s next move. The yen extended big overnight gains to a week-high 108.03 per dollar. The Australian and New Zealand dollars swiftly retreated from milestone peaks in early trade, Reuters reports. The kiwi hit a four-and-a-half month high of US$0.6576 on the first morning since New Zealand ended all social restrictions on Monday. The Aussie briefly touched a 10-month top of US$0.7040 and sterling touched a three-month high of US$1.2755, though all three pulled back to steady by mid-morning.

Source: The Standard June 09, 2020 03:21 UTC