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Dollar perched at two-month high as hot PMI fuels inflation fears, rate hike bets
HONG KONG: The dollar clung to a two-month high on Thursday after a strong manufacturing reading reignited inflation fears and rate-hike bets, while a weak Treasury auction sent yields higher across the curve, providing fresh impetus to the US currency. The broad dollar strength pushed the euro to $1.1378, a two-month low, while sterling languished near a three-month nadir at $1.3231. The dollar index , which measures the US currency against a basket of peers, held near a two-month high at 101.1. A stronger-than-expected purchasing managers’ report overnight fanned new price concerns and a ...
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