Market Sentiment Improves But Fed’s Statements Support US Dollar – FX Leaders

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The risk sentiment in global financial markets is back on the rise, sending safe haven currency Japanese yen to the lowest levels seen in almost three months while leading commodity currency Australian dollar makes its way higher. Meanwhile, the US dollar is holding mostly steady against other leading currencies, with the dollar index DXY trading at around 93.22 at the time of writing.Despite the risk-on sentiment among investors, the US dollar is enjoying support from an uptick in US Treasury yields, which have risen to the highest levels seen since July. The increase in bond yields came on the back of the Fed signaling its readiness in tightening the monetary policy sooner than previously anticipated.Last week at its policy meeting, the US central bank stated that it would begin tapering its monthly asset purchase program by November. In addition, policymakers also anticipated a rate hike coming soon, with around 50% of FOMC members expecting the Fed to increase interest rat
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