Global growth concerns caused the US dollar to rise, leading to dips in the euro and Australian dollar. Poor data from China and the Reserve Bank of Australia's decision to maintain rates further contributed to negative sentiment. The strength of the US dollar, driven by higher yields and weaker US growth conditions, continues to impact currency markets. The Australian dollar was particularly affected due to its exposure to China. The US dollar also strengthened against other currencies, such as the Chinese yuan and Canadian dollar. Analysts predict the yen will continue to weaken unless there is a significant change in the yield gap between Japan and the US.
