USBpH

U.S. Bancorp Depositary Shares repstg 1/1000th Pfd Ser B

19.1664
USD
0.09%
19.1664
USD
0.09%
17.4400 24.8400
52 weeks
52 weeks

Mkt Cap 766.00M

Shares Out 40.00M

Chat
Send me real-time posts from this site at my email

Australia, NZ dlrs ease but headed for strong weekly gains

SYDNEY, Aug 26 (Reuters) - The Australian and New Zealand dollars struggled to sustain rallies on Friday, but were headed for strong weekly gains, as traders awaited a speech from Federal Reserve Chair Jerome Powell for clues on its rate-hike path. The Aussie AUD= eased 0.2% on Friday to $0.6964, after surging 1% overnight to as high as $0.6991. The currency was heading for a weekly gain of 1.4% and is still some distance away from its recent major support level of around $0.6860. The New Zealand dollar NZD= fell by a larger 0.5% to $0.6202, weighed by comments from the central bank governor Adrian Orr made on Bloomberg Television that the softening in retail sales was "a good signal that monetary policy is biting." The kiwi was last up 0.5% for the week and has support at the recent one-month low of $0.6157. "Stronger commodity pricing and an improvement in risk sentiment as measured by the VIX has supported AUD. The next big move in AUD/USD will likely be guided by the USD's reaction to Jackson Hole," said analysts at CBA. Investors are eyeing Powell's speech at the Jackson Hole symposium at 1400 GMT for any insight into how aggressively the U.S. central bank still plans to raise interest rates. U.S. Federal Reserve officials on Thursday were noncommittal about the size of the interest rate increase they will approve at their Sept. 20-21 meeting, but continued hammering the point they will drive rates up and keep them there until inflation has been squeezed from the economy. Yields on Australian government bond futures eased. The 10-year yield AU10YT=RR fell 7 basis points to 3.608% from the previous close, while the three-year yield AU3YT=RR dropped to 3.274%, compared with the previous close of 3.324%. (Reporting by Stella Qiu; Editing by Kim Coghill) ((yifan.qiu@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue