The dollar edged higher against a basket of currencies on Monday thanks to strong U.S. August jobs data and amid fears of a potentially major escalation in the China-U.S. trade conflict.
Sterling briefly rose to a one-week high on Friday after European Union negotiator Michel Barnier said the EU was open to discussing other “backstops” on the Brexit issue, though a dollar rally on the back of strong U.S. jobs data checked gains.
Turkey has required exporters to convert the bulk of their overseas revenue into lira, a surprise move designed to support the tumbling currency, but one that industry officials say could lead to losses for manufacturers.
Many emerging market currencies, which have had a torrid few months, will bounce back at least partially against the dollar in a year as weakening growth momentum takes the shine off the greenback, a Reuters poll found.
India’s battered rupee, which has lost more than 12 percent this year, will hover near record lows on a worsening trade balance and at best only pare some of those losses in the coming 12 months, a Reuters poll found.
Sterling will make solid gains on the dollar in the coming year, a Reuters poll found, but that climb is based on the assumption that Britain leaves the European Union next year with a deal.