Caution abounds as US$ hovers at 7-week high
London
THE US dollar steadied at its highest levels since March on Thursday after a perceived increase in chances of a rise in US interest rates by September drove its biggest daily gain against the euro in five weeks.
Stronger data, rhetoric from the Federal Reserve and a resulting shift on money markets has revived expectations among hedge funds of a new rally for the US currency, which came within sight of parity with the euro a year ago.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale
Vietnam delays launch of new stock trading system
Tesla’s plan for affordable cars takes page from Detroit rivals
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters
K-pop agency Hybe’s internal strife wipes out 1.2 trillion won