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Dollar hovers near 13-month peak on concerns over Turkey
Wednesday, 15 August 2018 09:22 WIB | CURRENCIES | Indeks DolarDolar AS

The dollar held firm near a 13-month high against a basket of major currencies on Wednesday after safe-haven demand on fears over fallout from the Turkish lira™s recent drop boosted the U.S. currency.

The greenback™s strength was bolstered by the euro™s fall, which has been dogged by concerns over the exposure of European banks to financial turmoil in Turkey.

On Wednesday, an index that tracks the dollar against the euro, yen and four other currencies was flat at 96.729, hovering near a 13-month high of 96.794 reached the previous day.

The Turkish lira stabilised after rebounding more than 8 percent overnight. The currency traded 0.82 percent weaker on the day at 6.41 to the dollar after plunging to an all-time low of 7.24 on Monday.

Source: Reuters

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