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The promise of lower for longer rates sent yields on 10-year government bonds to a record low of 1.237%, compared with around 2.5% at the start of the year. The local dollar eased to a two-week trough.
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"Conditions seem increasingly favorable for the U.S. administration to intervene against perceived (dollar) overvaluation," Citi economists said in a note Wednesday. Trump has railed repeatedly.
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The promise of lower for longer rates sent yields on 10-year government bonds to a record low of 1.237%, compared with around.