U.S. dollar scales 9-month peak on Fed taper outlook, Delta variant
The U.S. dollar rose to a nine-month high on Thursday, as worries about widespread coronavirus infections and Federal Reserve meeting minutes showing it was considering reducing pandemic-era stimulus this year hit global stocks and commodity-linked currencies.
The dollar index , which measures its performance against six currencies, hit 93.587, its highest since early November of last year. It was last up 0.3% at 93.359.
A decline in debt purchases by the Fed is widely considered positive for the dollar as it is expected to raise U.S. government bond yields, making it more attractive for investors to hold dollar-denominated assets.
The euro fell as low as $1.1665 against the dollar for the first time since early November, and was last down 0.3% at $1.1676.
Pound plumbs month's low as stock rout hits risk currencies
Sterling fell 1% to $1.3642 .
TREASURIES-Yields dip on COVID concerns, Fed on track to trim bond purchases
Benchmark 10-year yields dipped three basis points to 1.245%. They fell to 1.127% earlier this month, which was the lowest since February.
Investors will be watching a speech by Fed Chair Jerome Powell in Jackson Hole next week for any new indications on when the taper will be announced.
Reference: Reuters
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