TOKYO: The dollar held near a 3-1/2-month high against a basket of currencies, as higher U.S. yields prompted an unwinding of short positions in the currency while the euro was hampered by a dovish tone from the European Central Bank.
The dollar´s index against six major currencies on Thursday hit a high of 91.639, its strongest level since mid-January, as investors have warmed to the greenback thanks to attractive Treasury yields.
It last stood at 91.527.In Japan, the yen was little changed after the central bank´s policy decision at which it kept settings unchanged.
The benchmark 10-year U.S. Treasuries had hit the psychologically important three percent mark on combination of worries about inflation and increased debt supplies as a result of President Donald Trump´s tax cuts and spending plans.
Earlier this year, the correlation between U.S. yields and the dollar had broken down as investors focused more on trade frictions and geopolitical issues, with currencies largely driven by Trump´s tweets than by economic data and yields. But so far this week, the markets have turned their attention to interest rate plays, pushing concerns over U.S.-China trade on the back burner for now.
The SECP recognizes the need for responsible and ethical marketing practices and call centre operations
Saquib Ahmad, Country Managing Director SAP Pakistan , Afghanistan. — Screengrab/YouTube/Nutshell Group/FileKARACHI:...
Gold rates decreased by $5 to $2,170 per ounce in the international market. Silver rates decreased by Rs20 at Rs2,580...
The U.N. agency last year agreed to target a 20 percent emissions cut by 2030
China's activity data broadly stabilised at the start of the year
SBP issued guidelines permitting exporters to freely utilize funds in ESFCAs for international payments related to...