The euro also hit over a one-year low against the greenback, dropping below January's 1.0482 nadir, as manufacturing surveys released in both Europe and the U.S. on Monday highlighted the divergence between the two economies.
The dollar also got a boost from rising U.S. Treasury yields as the upbeat economic news underpinned the higher-for-longer Fed rates views, while the last-minute deal that averted a government shutdown reduced demand for U.S. debt.The selloff of U.S. Treasury bonds is the "talking point" of financial markets, said Carol Kong, economist and currency strategist at Commonwealth Bank of Australia, and a trend that likely will continue as long as U.S. economic data remains strong.
Source: Loan Digest (loandigest.net)
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