US$ surges to 11-month high as bond rout continues

London

THE US dollar surged to an 11-month high against a basket of major currencies on Monday, resuming gains driven by rising US bond yields and expectations for inflation since Donald Trump's US election victory.

China's yuan lost another third of a percent to fall to its weakest since before the launch of its offshore market in 2010, while the yen and the euro both sank by almost another full percentage point to multi-month lows.

Friday had seen a halt in the bond market sell-off that has been the clearest global reaction to Mr Trump's election,…