THE dollar strengthened against all the majors overnight and has opened marginally firmer against the greenback after a public holiday in the US thinned volumes. Macquarie Group associate director of foreign exchange Joanne Masters said the dollar was well supported overnight, benefiting from a boost in risk appetite that also saw European stocks rally. Ms Masters said a speech by Reserve Bank of Australia (RBA) assistant governor Malcolm Edey today and the release of the minutes from the central bank’s last board meeting should offer the currency further support through the local session. Higher interest rates, used to combat inflation, can strengthen a currency by giving investors higher returns on investments denominated in it. News on your mobile NEWS. read more
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