Global Themes

USD climbs again as markets stay on edge

The US dollar continued to climb yesterday with key global sharemarkets experiencing further losses as the Turkish currency crisis continued.

The Turkish lira fell another 7.0% versus the US dollar yesterday but recovered from steeper losses as the Turkish central bank reduced local

reserve requirements to boost liquidity.

The US’s Dow Jones index fell 0.5% while Japanese shares lost 2.0% and Chinese shares fell 0.3%.

Safe havens

The USDSGD climbed 0.2% as it traded to new one-year highs.

The safe havens were the best performers in other markets.

The JPYSGD climbed 0.4% while the CHFSGD gained 0.4%.

Chinese data

Today, the focus shifts to China, with industrial production numbers due at 10.00am.

Tomorrow, US retail sales will be a crucial USD data for the week.

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