The dollar extended gains, driving currencies in emerging markets to record lows, as the case strengthened for multiple U.S. rate hikes next year. Copper was set to close at its highest level in more than a year. India’s rupee and Vietnam’s dong slid to records, while the Philippine peso dropped to its weakest level in eight years. The Turkish lira fell to an all-time low before a central bank rate decision. Copper’s surge pulled a gauge of commodities higher for a fourth day, the longest rally in a month. Rosneft PJSC approved a $17 billion bond program, the biggest ever by a Russian company as the nation’s largest oil producer refinances debt. Central banks worldwide are being pushed to take action in the face of the stronger dollar. In Turkey, policy makers will decide whether to support the nation’s beleaguered currency, […]