Economic news

Dollar touches fresh 13-month high on extended worries over Turkey

The dollar reached another 13-month top versus a basket of main currencies on Wednesday as safe-haven demand deepened in concerns over fallout from the Turkish lira’s recent fall supported the U.S. currency.

Photo: Reuters

Dollar index .DXY inched up 0.1 percent to 96.862, its top since hitting 97.447 on June 27, 2017.

The euro sank near 0.2 percent to $1.1324, after scaling a fresh 13-month trough of $1.1319.

Versus the yen, the greenback advanced about 0.1 percent to 111.27 yen.

Sterling traded at a 13-month low, losing 0.2 percent to $1.2694 amind weaker-than-expected wage growth numbers released on Tuesday.

China's yuan lost about 0.3 percent at 6.9175 yuan in offshore trading after dropping as far as 6.9210, its trough since March 2017.

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