Forex
Dollar Edges Up on Oil Price Surge and Rate Hike Expectations
The US dollar rose on Tuesday as oil prices climbed to a four-month peak, bolstering expectations of a Federal Reserve interest rate hike this week.
US Treasury yields surged to their highest levels since 2007, reaching 5.041% and remaining near 5.004%, in anticipation of the Fed's decision.
Juan Perez, senior director of trading at Monex USA, cautioned that investors should remain vigilant for unexpected surprises, despite markets pricing in a near certainty of a rate hike.
The dollar's six-currency index rose by 0.15% to 99.631, its highest level in about two weeks, while the euro fell by 0.1% and sterling weakened by 0.2%.