Dollar firm as US rates seen higher for longer; lira slides

TOKYO : The dollar firmed against major peers in Asian trading after a robust U.S. jobs report spurred traders to price in higher interest rates for longer.

Meanwhile, the Turkish lira dropped more than 1 per cent, continuing its slide since President Tayyip Erdogan's re-election, despite the appointment of highly-regarded Mehmet Simsek as finance minister. The U.S. currency edged up 0.04 per cent to 140.01 yen, as 10-year U.S. Treasury yields climbed more than 3 basis points to 3.727 per cent in Tokyo. The dollar rallied 0.84 per cent against the yen on Friday.While headline U.S.

CME Group's FedWatch tool shows interest rate traders are laying 1-in-4 odds for a hike next week, down from 2-in-3 odds a week earlier. For July, markets put 70 per cent odds for rates to be at least a quarter point above where they are currently.

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Dollar edges up as US rates seen higher for longerTOKYO : The dollar firmed against major peers in Asian trading after a robust U.S. jobs report spurred traders to price in higher interest rates for longer.The Australian dollar erased early losses after a report showed a pick-up in services activity in key trading partner China. The yuan also got a boost
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »