Dollar Extends Four-Week Winning Streak Against Euro Amid Treasury Yield Surge

The US dollar is extending its winning streak against the euro for a fourth consecutive week. The greenback's strength is attributed to rising U.S. Treasury yields, which are hovering near multi-decade highs.

A selloff in European bond markets and expectations that the Federal Reserve will maintain its hawkish stance are also contributing to the dollar's gain. Despite this, the euro rose 0.39% against the dollar on Thursday to $1.1285, but is still on track for a fourth straight weekly decline.

The dollar index slipped 0.29% to 101.68, although it is poised for a third consecutive weekly gain. Some analysts believe that investors are confronting an uncomfortable combination of sticky inflation, massive government borrowing, and heavy bond supply.