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Dollar scales new 2-decade high, sterling on the ropes again

Business 10:39 28 Sep, 2022
The U.S. dollar index hit a new high of 114.68 in Asia trade
Dollar scales new 2-decade high, sterling on the ropes again

The dollar hit a fresh two-decade peak against a basket of currencies on Wednesday on the back of rising Treasury yields, while sterling languished near a record low on concerns over Britain's radical tax cuts to spur growth.

According to the Qazet.az the U.S. dollar index hit a new high of 114.68 in Asia trade and was last up 0.42% at 114.62.

Meanwhile, benchmark U.S. 10-year Treasury yields rose to 4% for the first time since 2010, topping at 4.004%. The two-year yields stood at 4.2912%.