SINGAPORE : The U.S. dollar held near a seven-week peak on Thursday, after President Joe Biden and top U.S. congressional Republican Kevin McCarthy worked towards avoiding a damaging debt default, while the Aussie dollar slipped after disappointing jobs data.Biden and McCarthy on Wednesday underscored the
SINGAPORE : The U.S. dollar held near a seven-week peak on Thursday, after President Joe Biden and top U.S. congressional Republican Kevin McCarthy worked towards avoiding a damaging debt default, while the Aussie dollar slipped after disappointing jobs data.
U.S. Treasury yields remained elevated in early Asia trade after having risen in the previous session, as investors sold off the safe-haven bonds in the wake of the positive signs on the debt ceiling negotiations. Yields rise when bond prices fall. Early market action in Asia was partly led by the Aussie dollar, after data on Thursday showed that Australia's employment unexpectedly dipped in April, following two months of outsized gains. The jobless rate also ticked up, in a sign that the red-hot labour market might be cooling.
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