Pedestrians walk past a board diplaying the price of Euro and US dollars against British pound Sterling, outside a currency exchange store in central London on October 4, 2016. AFP / NIKLAS HALLE'N
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
The dollar rose the most in two weeks and gold tumbled as hawkish comments from Federal Reserve officials spurred wagers that U.S. interest rates will increase this year.Fed Bank of Cleveland President Loretta Mester said the economy is ripe for a rate hike and repeated that the November meeting should be viewed as "live" for a policy decision. Her Richmond counterpart Jeffrey Lacker urged the central bank to boost rates to head off a likely pickup in inflation that would force bigger increases later.The Bloomberg Dollar Spot Index, which tracks the currency against 10 major peers, rose 0.5 percent at 11:40 a.m. in New York.India's rupee gained as the central bank cut interest rates in its first policy meeting since a leadership change.Benchmark U.S. 10-year yields rose two basis points, or 0.02 percentage point, to 1.65 percent, according to Bloomberg Bond Trader data.U.S. Treasurys have returned 5 percent this year, according to the Bloomberg World Bond Indexes, even as the Fed moves closer to boosting rates for the second time since the financial crisis.
FOLLOW THIS ARTICLE