* Higher Treasury yields boost dollar
* U.S. refrains from calling China a currency manipulator
(New throughout, updates prices, market activity and comments
to U.S. market open, new byline, changes dateline, previous
LONDON)
By Karen Brettell
NEW YORK, Oct 18 (Reuters) - The U.S. dollar index traded
near one-week highs on Thursday as Treasury yields edged higher,
after minutes from the Federal Reserve’s September meeting
showed that Fed policy makers are largely united on the need to
raise borrowing costs further.
That came despite U.S. President Donald Trump's view that
interest rate hikes have already gone too far.
Benchmark 10-year Treasury yields have jumped to 3.21
percent, from around 3.17 percent before the minutes
of the U.S. central bank's Federal Open Market Committee (FOMC)
meeting were released on Wednesday, supporting a higher dollar.
“The Treasury market leaked higher in yield yesterday
following the FOMC minutes, and that got a bit of attention,”
said Brian Daingerfield, a macro strategist at NatWest Markets
in Stamford, Connecticut.
"For the broader dollar, the interplay is how does the
dollar trade relative to what’s going on interest rates and
what’s going on in the broader risk environment?” Daingerfield
said.
The dollar index measuring the greenback against a basket of
currencies gained 0.14 percent on the day to 95.711, just
below a one-week high of 95.775 reached in overnight trading.
China's currency traded near a three-month low
against the dollar at 6.9490 yuan per dollar, after a semiannual
report by the U.S. Treasury refrained from naming China a
currency manipulator but showed concern about yuan depreciation.
"Of particular concern are China's lack of currency
transparency and the recent weakness in its currency," said
Treasury Secretary Steven Mnuchin.
By stating that the Treasury will monitor and review the
yuan's moves over the coming six months, “the U.S. explicitly
noted that it stands ready to name China in its April 2019
report,” Citigroup analyst Calvin Tse said in a report.
Deutsche Bank strategists termed the Treasury report "as a
bit of an escalation without being too dramatic."
========================================================
Currency bid prices at 9:32AM (1332 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Euro/Dollar EUR= $1.1494 $1.1499 -0.04% -4.18% +1.1527 +1.1482
Dollar/Yen JPY= 112.5300 112.6400 -0.10% -0.12% +112.7200 +112.4400
Euro/Yen EURJPY= 129.36 129.53 -0.13% -4.31% +129.7200 +129.1300
Dollar/Swiss CHF= 0.9959 0.9952 +0.07% +2.22% +0.9975 +0.9921
Sterling/Dollar GBP= 1.3100 1.3113 -0.10% -3.05% +1.3131 +1.3077
Dollar/Canadian CAD= 1.3040 1.3016 +0.18% +3.68% +1.3055 +1.3019
Australian/Doll AUD= 0.7128 0.7108 +0.28% -8.63% +0.7151 +0.7105
ar
Euro/Swiss EURCHF= 1.1449 1.1444 +0.04% -2.05% +1.1466 +1.1428
Euro/Sterling EURGBP= 0.8772 0.8768 +0.05% -1.24% +0.8792 +0.8769
NZ NZD= 0.6559 0.6548 +0.17% -7.44% +0.6577 +0.6535
Dollar/Dollar
Dollar/Norway NOK= 8.2250 8.2122 +0.16% +0.22% +8.2341 +8.2053
Euro/Norway EURNOK= 9.4569 9.4467 +0.11% -3.98% +9.4669 +9.4405
Dollar/Sweden SEK= 8.9950 8.9639 +0.31% +9.67% +8.9994 +8.9513
Euro/Sweden EURSEK= 10.3400 10.3077 +0.31% +5.10% +10.3432 +10.3054
(Additional reporting by Saikat Chatterjee in London; editing
by Jonathan Oatis)
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