Dollar rises to 13-month peak on anxiety over Turkey [Reuters]
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Source: Reuters
Dollar rises to 13-month peak on anxiety over Turkey | Reuters 3 Min Read NEW YORK (Reuters) - The dollar advanced to a 13-month peak on Tuesday against a basket of major currencies as traders increased their safe-haven holdings of the U.S. currency on worries about the fallout from the Turkish lira’s recent fall. While the lira rebounded from an all-time low, concerns about European banks’ exposure to the country spurred selling of the euro, sending it to 13-month lows against the greenback and Swiss franc. An index that tracks the dollar against the euro, yen, sterling and three other currencies touched 96.794, the highest since June 2017. It was last up 0.4 percent at 96.762. The Turkish lira has lost more than 40 percent of its value against the dollar this year, hit by worries over President Tayyip Erdogan’s calls for lower interest rates and fraying ties between the United States and Turkey, a NATO ally.. On Tuesday, however, the lira recovered some ground, trading at 6.4300 to
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