'The dollar is just a steamroller.' Rand back at R19/$

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The dollar rose to a new 10-month peak against a basket of major currencies on Tuesday as US bond yields hit their highest level since October 2007.

The rand hit R19/$ after strengthening to below R18.70 over the past week. The currency has now lost 6% of its value over the past year.

His comments helped push up the yield on the 10-year U.S. Treasury - the benchmark US yield that sets the tone for borrowing costs around the world - to 4.566% on Tuesday. Bond yields move inversely to prices. The euro was last up 0.1% against the dollar at $1.0596, having hit its lowest since March at $1.057 earlier in the session."The dollar is just a steamroller, it's absolutely extraordinary," said Joe Tuckey, head of FX analysis at broker Argentex.

James Malcolm, head of FX strategy at UBS, said of Japanese officials:"In terms of all of the tell-tale signs they've done everything they possibly could do."


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