US dollar reaches 11-year high as safe-haven demand grows
The US dollar surged to an 11-year peak following a pause in US-Iran military tensions, while the New Zealand dollar recovered modest ground.
The US dollar reached its highest level in 11 years as positive developments in US-Iran relations reduced geopolitical risk. The New Zealand dollar recovered some losses and traded modestly higher against major currency pairs. Higher Australian interest rates pushed New Zealand swap rates to fresh cycle highs, with the 2-year swap closing at a new peak.
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USD gains on long positions, reaching an 11yr high
Positive weekend developments with US and Iran military action paused. NZD recovers some lost ground and is modestly higher on the key crosses. Higher Australian rates drive up NZ rates, with 2-year swap closing at a fresh cycle high