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United States : US dollar treads water; rally loses steam as US yields sag

May 15, 2018 (Euclid Infotech Ltd via COMTEX) --

The US dollar held steady on Monday, its recent rally running out of steam on the back of sagging US yields as investors wound back expectations that the Federal Reserve will launch a series of quick rate hikes.

The US dollar index against a basket of six major currencies was little changed at 92.520.

The index hit a 4-1/2-month high of 93.416 last Wednesday, as a rise in US Treasury yields highlighted the wide interest rate gap between the United States and other countries.

However, it drifted lower after soft April US consumer price data curbed the prospect of aggressive rate hikes.

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Lt Crude 71.67
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Gold 1294.5
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Euro 1.17190
USD Index 93.850
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DJIA E-mini 24777