Dollar Rises with Crude Oil and Treasury Yields
The US dollar index (DXY) is up by +0.20% today, supported by rising crude oil prices and T-note yields.
The price of WTI crude oil has surged to a 3.5-month high, boosting inflation expectations and potentially prompting the Federal Reserve to raise interest rates.
This, combined with a jump in T-note yields and falling stocks that are increasing liquidity demand for the dollar, is driving the currency higher today.