Market Briefing: Dollar Weakens as Market Mood Brightens
With a refreshing long weekend behind them and back-to-school lunchboxes (lovingly packed by their moms) sitting on their desks, traders are tiptoeing into markets in a cautiously-optimistic manner this morning. Yields are falling, futures on most major equity indices are in the green, and the dollar is weakening as risk appetite improves. The Australian dollar remains on the defensive after the Reserve Bank of Australia lifted its cash rate target by half a percentage point for the fourth consecutive time, continuing the most aggressive monetary tightening cycle in decades as it struggles to bring inflation under control. Central bankers hinted...