Print Edition - 2018-05-17  |  Money Digest

Dollar near 5-month high


May 17, 2018-

 The dollar hovered near a five-month high against a group of major currencies on Wednesday, as a surge in the benchmark 10-year Treasury yield above 3 percent reignited a rally that had lost steam last week. The dollar index versus a basket of six major peers added 0.1 percent to 93.335 after rallying to 93.457 overnight, its highest since December 22. The greenback had gained with few interruptions since mid-April as easing tensions in the Korean Peninsula and moves by China and the United States to prevent a full-blown trade war allowed investors to focus on the yield advantage the United States enjoys over other countries. Strong US consumer spending numbers sent long-term Treasury yields surging to a seven-year peak of 3.095 percent. (REUTERS)

Published: 17-05-2018 08:03

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