USD Continues Upward Trajectory in Asia Morning Trade, Pressuring Major Currencies

During Asia morning trade, the US dollar’s ascent from Monday persists, exerting downward pressure on several major currencies. Key movements include declines in the AUD, NZD, EUR, GBP, CAD, CHF, and the yen, albeit to varying extents.

Notable Developments:

AUD/USD hits a 5-month low

EUR/USD reaches a 5-month low

GBP/USD touches a 5-month low

NZD/USD reaches its lowest point since November

JPY remains near 34-year lows

In the absence of fresh developments, the ongoing trend underscores the strengthening position of the US dollar against its counterparts. San Francisco Federal Reserve President Daly’s acknowledgment of the prevailing circumstances adds weight to the dollar’s momentum.

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