Economic news

Dollar climbs from three-year trough

The dollar extended its recovery from three-year trough on Tuesday, having risen 1.5 percent since Friday after a sharp sell-off in recent weeks.

Photo: Reuters

The dollar's index jumped just over half a percent to 89.569.

Versus the yen, the greenback gained half a percent to 107.09 yen, having leaped back from a 15-month nadir of 105.545 scaled on Friday.

The euro lost 0.4 percent to $1.2360, sliding from Friday’s three-year peak of $1.2556.

Sterling dropped to $1.3978 from $1.3999 late Monday.

The greenback has been dragged down by rising U.S. Treasury yields since the beggining of the year, falling to its nadir since late 2014 versus a basket of major currencies.

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