When a nation’s central bank raises interest rates, it’s often a bullish sign for the currency. Not so in the U.S., where expectations for a Federal Reserve rate hike next week are flashing sell signals for the dollar.
Sterling added more than a cent to hit two-month highs on Thursday after forecast-beating UK retail sales data and amid growing optimism that Britain and the European Union are making progress at a summit of EU leaders towards a Brexit deal.
Turkey’s lira reversed from gains to losses against the dollar and bank shares dropped as Treasury and Finance Minister Berat Albayrak left investors waiting for more details on plans to shore up lenders in his road map to re-balance the economy.
The U.S. dollar was lower against other currencies on Monday amid renewed trade war fears and a rise in U.S. treasury yields .
Litecoin was trading at $51.961 by 21:14 (20:14 GMT) on the Investing.com Index on Monday, down 10.02% on the day. It was the largest one-day percentage loss since September 5.