Weak ISM Data Damped Rate Hike Hopes, Crude Oil Not Helped by USD Decline
EMYBernieceDisappointing US ISM non-manufacturing index sent US dollar and Treasury yields lower. Yet, Wall Street gained on reduced hopes of Fed funds rate hike. Antipodean currencies outperformed with Aussie and Kiwi soaring +1.4% and +1.5% respectively. US Treasury yields fell to lowest levels in more than 2 weeks with 2-year and 10-year yields sliding to 0.734% and 1.543% respectively.
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Weak ISM Data Damped Rate Hike Hopes, Crude Oil Not Helped by USD Decline
