The safe-haven dollar and yen eased on Thursday while the Australian and New Zealand dollars jumped amid signs of an easing in Shanghai's coronavirus lockdown, although sentiment remained fragile as global equities sold off. Shanghai will allow more businesses in some areas to resume normal operations from the start of June, an official said, stirring hopes for an end to a crippling weeks-long lockdown under the government's strict zero-COVID policy. That helped lift the mood in a market that was badly bruised on Wednesday by mounting concerns that aggressive tightening by the Federal Reserve and other global central banks could choke growth.
The US dollar has fallen slightly during the trading session on Wednesday to show signs of heavy behavior. That being said, the market is still very much in a bullish trend.
The US dollar has rallied a bit against the Japanese yen during the trading session on Tuesday as we continue to see this as a “buy on the dip” type of situation.