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.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.