Treasury

EUR/USD
The Shared currency crashed to a 21-month low of $1.1055 on Wednesday by worries that the Russian invasion of Ukraine would hurt Europe’s economy. The pair finally recovered to $1.1108 earlier today.

GBP/USD
The Cable staged a solid recovery to $1.3408 after Fed Cahir Jerome Powell nodded to the possibility of higher U.S. rates later this month, helping the outlook for countries such as the U.K. attempting to exit pandemic-era accommodation.

USD/JPY
The Japanese yen lost ground to 115.64 versus the greenback after Federal Reserve Chair Jerome Powell said he favored a 25 basis points rate hike in March and commented it would begin a series of increases.

AUD/USD
The Aussie dollar traded at a seven-week high on Wednesday after prices for Australian exports such as coal, gas, and grains blasted higher.

USD/CAD
The Loonie spiked to 1.2628 against the U.S. dollar after the Bank of Canada hiked interest rates by 0.25 basis points to 0.50% for the first time since October 2018.

USD/ZAR
The Rand strengthened to 15.33 per U.S. dollar as South Africa being a mining-led economy found support on the back of strong commodity prices.

USD/MUR
The dollar-rupee grinded higher by 5 cents to 44.25 (Selling).