Market News
Dollar climbs for 3rd straight session, sterling weakness continues - REUTERS
Summary
- Sterling slides to 14-month low
- Investors brace for Trump tariff plans
- Fed officials signal rate cut caution
NEW YORK, Jan 9 (Reuters) - The U.S. dollar strengthened for a third straight session on Thursday as Treasury yields dipped but held at elevated levels on concerns over tariffs under the incoming Trump administration, while sterling's recent weakness persisted.
U.S. Treasury yields have been on an uptrend, with the benchmark 10-year note hitting an 8-1/2 month high of 4.73% on Wednesday as a resilient economy and likely tariffs have rekindled inflation concerns and heightened expectations the Federal Reserve will take a slower path of interest rate cuts.
