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16/5/2018

Dollar hits 5-month high as yields up above 3%

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The dollar rallied to hit five-month’s high overnight in Asia, and its momentum remained in early morning. Japan’s GDP figures missed expectation, ending its nine-quarter growth run. The dollar hit 93.32 on Tuesday night in Asia, the highest level this year. As the relations on the Korean peninsula improved and a full-blown trade war between the U.S. and China became less likely, investors turned to U.S. 10-year Treasury yields for cues. In China, the People's Bank of China set the set the reference rate for the yuan against the dollar, the mid-point from which the currency is allowed to trade, at 6.3745 versus the previous day's 6.3486

Source: Investing.

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Tags:Currency News

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