Dollar Climbs on Higher Yields Amid Global Price Pressures

The US dollar has reached a two-month high due to rising US Treasury yields. This rise is partly driven by concerns over persistent global price pressures stemming from the Middle East war.

Data showing that US inflation rose less than expected in August, with downward revisions to July's reading, reduced expectations for a Federal Reserve rate hike this month.

However, a surge in euro zone inflation underscores the threat that higher energy prices continue to pose to the global economy.