Dollar continues ascent after Yellen's remarks
New York
BLOOMBERG'S gauge of the US dollar last week rose for the eighth time in nine weeks after Federal Reserve chair Janet Yellen signalled that the central bank is poised to increase interest rates next year starting as early as April.
The greenback headed for gains this year against all except one of its 31 major peers, a feat it hasn't accomplished since 1997, as Ms Yellen said the impact of Russian turmoil on the US economy is small. Hungary's forint and the Polish zloty sank on concern that the economic crisis that has driven the rouble down 44 per cent this year will spread. The Swiss franc weakened the most in two months versus the euro after the central bank introduced negative interest rates.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Keppel prices 70 million euros of floating-rate notes due 2031
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Shareholders raise questions over dividend payout, directors’ salaries at Best World AGM ahead of proposed privatisation
China’s Bank of Communications Q1 profit rises 1.44%
Huawei’s smart car tech offers automakers route to China sales
Electrolux Q1 loss nearly triples on weak demand but beats expectations