Dollar weakness and Turkish central bank liquidity tightening provided some support to the Turkish lira yesterday, whilst a move lower in US treasury yields improved risk appetite, boosting emerging equities.
Some of the most beaten-down emerging market currencies, such as the lira and the Mexican peso, made some decent gains in early trading after the dollar weakened 0.2% against a basket of currencies.
Traders said comments by US President-elect Donald Trump that the dollar was too strong had provoked a broad re-think of the dollar strength that has dominated currency markets in recent weeks.
Trump’s failure to offer any details on his proposed …read more
Source: Gulf times
