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US Yields and Dollar Rise After US Government Closure Averted
The US avoided a government shutdown, barely, and this eased one of the headwinds that were anticipated. In turn, this is spurring new gains in US interest rates and helping underpin the dollar at the start of the new quarter. The 10-year Treasury is holding above 4.60% and nearing last week's high (4.68%). The two-year yield gapped higher and is near 5.10%. The high from September 21 was almost 5.20%. The Swiss franc is the only G10 currency holding its own against the dollar today. Among emerging market currencies, three currencies are slightly firmer, the Hungarian forint, Polish zloty, and the Taiwanese dollar. ... (full story)