International
Dollar bounces on positive survey on US business activities
October 25, 2023 | 12:28 PM
The dollar drew support on Wednesday from a survey showing US business pulling out of a five month contraction, while the Australian dollar strengthened on the likelihood of interest rate hikes after a surprisingly strong inflation print.The dollar index, which measures the greenback against a basket of six peers, was steady at 106.17, rebounding from a one-month low of 105.35 struck during the previous session.The buoyant dollar kept the yen pinned near the closely watched 150 threshold, with the Japanese currency last at 149.84 per dollar.The Aussie gained as much as 0.7% to touch a roughly two-week high of $0.6400.The US dollar held to most of its gains against the euro, after the single currency slid 0.75%.The euro was last 0.13% higher at $1.0602.Elsewhere, sterling rose 0.13% to $1.2175, while the New Zealand dollar gained 0.1% to $0.58505. (QNA)
October 25, 2023 | 12:28 PM