Dollar was initially mixed last week but buyers jumped in after FOMC minutes revealed the quantitative tightening plan. US benchmark treasury yields also surged to highest level since 2019. Both Canadian and Australian Dollars followed as second and third strongest. Aussie was boosted by RBA's hints on earlier rate hike while Loonie was supported by strong job data. While ECB delivered a hawkish twist in the meeting minutes, Euro ended as the worst performer as the Ukraine war dragged on. Yen was the next weakest, and continued its inverse relationship with global benchmark yields. Sterling and Swiss Franc were mixed. |