Dollar, Bond Yields Up On Strong U.S. Data
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Reports Trump requested now-dismissed FBI director James Comey to finish the company’s investigation into ties between former White House nationwide security adviser Michael Flynn and Russia, weighed heavily on the dollar and raised questions about whether Trump tried to intervene with a federal investigation. The belly of the U.S. yield curve additionally climbed to multi-yr peaks, with five-year notes rising to their strongest stage in 5-half years and 7-year notes hitting virtually three-year highs. Yields on U.S. two-yr notes touched greater than seven-year peaks.
While some labour costs had been rising, notably in manufacturing, the Bank knowledge prompt pay deals were barely maintaining with worth progress. The yen rose to 0.7pc to 112.26 yen per dollar, its highest degree since May 5, while the Swiss franc rose to 0.9820 francs per dollar, its highest since March 27. Fed fund futures
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