Dollar rises to 5-week high on inflation worries; lira falls.
The U.S. dollar rose to a five-week high against major peers on Monday, buoyed by inflation worries at home and growth concerns globally, though its gains were capped by anticipation the Federal Reserve will cut rates later this year.
The Turkish lira sank to a two-month low after weekend elections looked headed for a runoff, while the Thai baht rallied almost 1% after Thailand’s opposition routed military-allied parties also in weekend polls.
