The dollar is climbing and the euro is falling due to the Turkish lira

The dollar is climbing and the euro is falling due to the Turkish lira



Wednesday 15 August

Alsumaria News / Baghdad
stepped up the dollar, on Wednesday, to its highest level in more than a year, while the Turkish lira continued to negatively impact the crisis on emerging markets, fueling demand for the US currency as safe havens.

The dollar gained more than other currencies recently, supported by signs that the US economy remains strong ahead of an expected Federal Reserve rate hike next month.

The dollar was also supported by the depreciation of the lira, which negatively impacted the euro as European banks were exposed to Turkey and stimulated demand for the dollar and other currencies such as the Swiss franc and the Japanese yen as safe havens.

Turkey has increased tariffs on some US imports, such as alcohol, cars and tobacco, in response to US moves, but the lira has risen.

The euro fell to $ 1.13 for the first time since July 2017, and the pound fell below $ 1.27 for the first time since June last year.

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