Dollar gains as US yields and rate bets rise
A firm dollar and rising US Treasury yields, supported by strong manufacturing data and expectations of further rate increases, pressured other currencies. The Indonesian rupiah was on track for its steepest weekly fall since May.
Timeline
Friday, 25 September
- Yen bounces, yet dollar strength keeps pressure near 160
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- Dollar set for weekly gains as yields surge, Fed bets build
The dollar posted consecutive weekly gains for the first time in over three months
- Rupiah set for biggest weekly fall since May as US yields rise and dollar firms
The rupiah was on track for its biggest weekly fall since May, with higher US yields and a firm dollar cited as factors.
Thursday, 24 September
- Dollar holds at two-month high as strong US manufacturing data lifts rate-hike bets
Robust manufacturing data fuelled inflation concerns and rate-hike bets
