Treasury

EUR/USD
The Shared currency dived to $1.0450 after hawkish U.S. Federal Reserve Chairman Jerome Powell said the biggest risk to the U.S. economy is persistent inflation and not that interest rate hikes will slow the economy too much.

GBP/USD
The Cable tumbled to $1.2135 after Bank of England governor Andrew Bailey said the U.K economy was at a turning point and starting to slow at a time when red-hot inflation is expected to continue.

USD/JPY
The Japanese yen plummeted to 137.00 against the U.S dollar on Wednesday, its lowest level since 1998, before paring losses to 136.19 this morning on Japan’s mixed industrial production data earlier today.

AUD/USD
The Aussie dollar edged lower to $0.6882 as China’s NBS Manufacturing PMI was softer than expected in the Asian session.

USD/CAD
The Loonie gave back most of its gains on Monday to 1.2896 against the greenback as the prospect of a global economic slowdown weighed on investor sentiment. 

USD/ZAR
The South African rand fell to 16.28 per U.S dollar after struggling state electricity company Eskom warned that the power system would remain constrained and vulnerable to additional breakdowns.

USD/MUR
The dollar-rupee rallied by 15 cents to 45.25 (Selling) on U.S dollar strength, which benefited from safe-haven demand on renewed worries about higher rates and a global recession.