💨 Abstract

China's stimulus package boosted risk appetite, driving the Australian and New Zealand dollars to multi-month highs on Wednesday. Sterling also hit a 2-year high against the dollar due to less aggressive rate cut expectations from the Bank of England. The dollar remained weak as investors bet on another large U.S. rate cut in November. Meanwhile, U.S. consumer confidence unexpectedly fell in September due to concerns over the labor market.

Courtesy: theprint.in