CORRECTED-FOREX-Dollar hits another 13-month peak on continuing concerns over Turkey [Reuters]
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Source: Reuters
Dollar hits another three-month peak on continuing concerns over Turkey | Reuters 4 Min Read TOKYO (Reuters) - The dollar hit another fresh 13-month high against a basket of major currencies on Wednesday as safe-haven demand rooted in fears over fallout from the Turkish lira’s recent drop boosted the U.S. currency. The greenback's strength - overnight it also hit a 13-month high - has been bolstered by a fall for the euro EUR= , dogged by concerns over exposure of European banks to Turkey. “In light of all the turmoil we’ve seen out of Turkey and the subsequent contagion into other emerging markets, the dollar is pretty much establishing itself as the safe-haven currency,” said Bart Wakabayashi, Tokyo branch manager at State Street Bank. “The dollar is the higher-yielding of the safe-haven currencies, so it obviously will attract the most flows. If you are going to park your money somewhere to stay away from the turmoil, the dollar is going to be the currency of choice,” he said. As o
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