LONDON (Reuters) – Borrowing costs for U.S. dollars in currency derivatives markets rose to their highest levels in nearly a year on Monday.
Three-month cross-currency swaps for euro-dollar fell to their lowest levels since December 2020, according to Refinitiv data, suggesting greater demand for the greenback/
While some of the this is likely to the typical year-end rush for dollars to meet funding needs, one trader said the euro’s decline over the past few days may also be a driver.
(Reporting by Saikat Chatterjee and Sujata Rao)
