Dollar Rises amid Resilient US Economy

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The dollar pushed to a two-month high against the euro and a six-month peak versus the yen on Thursday, as a resilient US economy led traders to pare their bets on rate cuts this year.

The dollar touched $1.07425 per euro early in the Asian session. The dollar also bought 139.66 yen.

The US dollar index, which measures the currency against six major peers including the euro and yen, touched a two-month high of 104.01.

Meanwhile, the Chinese yuan renewed a six-month low by dropping to 7.0827 per dollar in the offshore market.

Australia’s dollar edged to a fresh 6 1/2-month low of $0.6527. The New Zealand dollar fell to $0.6085.

Source: Qatar News Agency