U.S. Treasury yields rose sharply after the Treasury Department announced a smaller-than-expected bond buyback program, a move that compounded pressure from surging oil prices and persistent inflation fears.
The Japanese yen continued its strong advance on Wednesday, while the U.S. dollar and euro held steady as currency markets await a pivotal week of interest rate decisions from the world's major central banks.
The Ugandan shilling fell against the U.S. dollar, driven by strong demand from manufacturers and energy firms amid geopolitical uncertainty. Traders see the currency potentially reaching the psychologically significant 4,000 level for the first time.
The Ugandan shilling has weakened significantly against the U.S. dollar, driven by strong demand from manufacturers and energy firms. Traders anticipate further depreciation, potentially pushing the currency to a historic low above 4,000 per dollar.
The British pound traded flat against the U.S. dollar on Thursday, as a powerful rally in the greenback stalled ahead of a key interest rate decision from the Bank of England. The dollar's recent strength follows a hawkish policy update from the Federal Reserve.
The benchmark 10-year U.S. Treasury yield fell for the first time in nine sessions, pulling back from the 5% level as bond markets digested a key interest rate increase from the Federal Reserve and signs of easing geopolitical tensions.
The U.S. dollar held near a seven-week high following the Federal Reserve's first rate hike in three years, leading to a mixed performance among Asian currencies as markets await a key policy decision from the Bank of Japan.
The Canadian dollar weakened to its lowest level in a month against the U.S. dollar after the Federal Reserve raised interest rates and indicated another hike is likely this year, widening the policy divergence with the Bank of Canada.
Analysts at UBS project the euro could strengthen to 0.96 against the Swiss franc, citing the franc's low yield and the Swiss National Bank's expected dovish stance compared to other G10 central banks.
