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Market move▼ Bearish for Indian equities
US dollar reaches 17-month high as global bond rout hits euro
The brief
- The US dollar climbed to a 17-month high as global bond yields rose
- Investor anxiety over inflation and rising yields weighed on the euro
- A stronger dollar and higher global yields can weigh on the rupee and Indian equities
- FOREX-Euro slides to 17-month low, hit by rates and inflation cocktail
- Eurozone manufacturing PMI reaches four-year high of 52.9 in September
- German inflation hits highest level in almost 3 years
- Inflation jumps across euro zone, raising pressure on ECB to hike
- How European investors can now buy bitcoin without taking on U.S. dollar risk
Dollar gains on rising US rate expectations
The dollar held near a two-month high on 1 October as rising US Treasury yields supported it, with global inflation fears also bolstering the currency. Later, it reached a three-month high as markets weighed the prospect of further Federal Reserve rate hikes.
Friday, 2 October
- US dollar reaches 17-month high as global bond rout hits euro