Forex
AUD/USD Stabilizes Amid US Yield Rebound
The Australian Dollar has stabilized around $0.7220 after hitting a fresh four-month high at $0.7237 earlier on Wednesday.
This stabilization comes as the US Dollar rebounds, supported by rising US Treasury yields.
The benchmark 10-year US Treasury yield climbed to 4.85%, while the 30-year yield reached 5.30% after the United States Treasury Department announced plans to buy back $6 billion of longer-term government debt.
The operation aimed to improve liquidity and support the smooth functioning of the US government bond market, but longer-term yields moved higher following the announcement, suggesting that the larger buyback was not enough to ease selling pressure on US government debt.