Dollar Hits 3-Month High on US Treasury Yields and Global Price Fears
The US dollar has reached its highest level in over three months due to rising US Treasury yields and concerns about persistent high global prices as a result of the US-Israeli conflict on Iran.
According to the dollar index, which tracks the dollar against a basket of currencies, the dollar peaked at 101.66, its highest since June 25. It rose by 2% in September.
The euro fell 0.11% to $1.1317 in Asia, losing nearly 2.5% in September, its biggest monthly fall since July 2025, as Europe's debt and energy worries weighed on it.
Ray Attrill of National Australia Bank noted that the dollar is now reacting more to 10-year Treasury yields than to Fed rate hike expectations, with rising yields supporting the dollar for now but a stock market slump potentially benefiting it.