Economic news

Dollar holds last week’s advance as U.S. bond yields rise

The dollar headed to a two-week peak versus a basket of its major peers on Monday, underpinned by rising U.S. bond yields, while easing worries over world political risks affected the safe haven Japanese currency.

Photo: Reuters

The dollar’s index was up 0.1 percent to 90.401, remaining near a two-week peak of 90.477 hit on Friday.

Versus the yen, the greenback touched a two-month peak of 107.89 yen.

The euro slipped 0.1 percent to $1.2274, having touched a two-week trough of $1.2250 on Friday.

The single currency had fallen last week as traders trimmed long positions in the euro ahead of ECB policy meeting this week at which officials are largely expected to keep monetary policy.

The pound inched up 0.1 percent to $1.4016. Last week, it slumped 1.7 percent, its largest weekly fall since early February. Sterling dropped last week on fresh inflation and retail sales figures and Bank of England Governor Mark Carney's statements on Thursday.


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