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2016.11.1100:28:00UTC+00Dollar Climbs Against Emerging Market Currencies

The dollar climbed against a basket of emerging-market currencies amid expectations that an interest rate hike will continue in the U.S. The Wall Street Journal Dollar Index rose 0.7 percent to 89.48.

The U.S. currency recently jumped 5.3 percent versus the Brazilian real, up 5.5 percent versus the South African rand and climbed 4.3 percent versus the Mexican peso. The selloff in government bonds pulled up rates, with investors assessing the possibility of increased fiscal stimulus under the Donald Trump administration. Federal-funds futures have shown that investors implied a 76.3 percent chance of a rate hike by year-end.

The dollar rose 1.1 percent against the Japanese yen at 106.68. The euro fell 0.2 percent at $1.0891.

Tags: USD
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