The dollar strengthened as US rates seen higher for longer; Aussie and yuan recover; lira slides amid Erdogan’s re-election. Robust US jobs report boosts dollar with increased interest rate expectations. Australian dollar rebounds on positive Chinese services activity. Turkish lira continues to decline despite appointment of Mehmet Simsek as finance minister. US dollar supported by higher Treasury yields following strong payroll data. Dollar gains against yen as Treasury yields rise in Tokyo.
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Summary
Article Name
Firm Dollar, Longer US Rates Propel; Lira Slides
Description
The dollar strengthened as US rates seen higher for longer; Aussie and yuan recover; lira slides amid Erdogan's re-election.
Author
Susan Jane
Publisher Name
CNA
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