XE Market Analysis: US Dollar Gains as Emerging Market Currencies Suffer from Rising Yields

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OVERVIEW

  • US 10-year Treasury above 3% for first time since 2014.
  • USD gaining on a key break higher for US government bond yields.
  • EUR remains soft as focus turns to relative interest rate differential.
  • Turkish central bank raises rates, supports the Lira for now.
  • Emerging market currencies weaken on fears of impact from higher debt costs.

HIGHLIGHT