Dollar Hits 17-Month High vs Euro Amid Bond Yields Spike

The US dollar has reached a 17-month high against the euro due to a selloff in government bonds across the US and Europe, which pushed Treasury yields to new peaks.

This rise is largely attributed to higher oil prices driving inflation, causing bond yields to increase.

The European currency fell below $1.123 for the first time since May 2025 against the dollar.

The euro was last down 0.79 per cent at $1.1238 and declined nearly 2.5 per cent in September, its largest monthly decline since July 2025.