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Dollar Rebounds Against EM and Energy

2024-07-12OANDAOANDA
The dollar resumed its rise on Wednesday, surging to new 13-month highs and upping pressure on commodities, emerging markets and global stocks, though the Turkish lira managed out to eke out a second day of gains. Wall Street futures pointed to a sharply lower opening. The lira, a big focus for markets in recent days, […]

The dollar resumed its rise on Wednesday, surging to new 13-month highs and upping pressure on commodities, emerging markets and global stocks, though the Turkish lira managed out to eke out a second day of gains.



Wall Street futures pointed to a sharply lower opening.

The lira, a big focus for markets in recent days, bounced as much as 8 percent as authorities tightened the screws on foreign investors aiming to short the currency. But having firmed beyond 6 per dollar, most of its early gains fizzled out.


West Texas Intermediate graph

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