Dollar Hits Near Two-Month High on Treasury Yield Surge
The US dollar has reached near a two-month high due to rising Treasury yields and oil prices. The dollar index, which tracks the greenback against major peers, has edged higher around 101.2.
This represents a roughly 1.8 percent advance for the month, its strongest performance since June. However, traders are cautious ahead of US economic data releases that could reshape Federal Reserve rate expectations.
CNA reports that energy markets remain an important backdrop, with Brent crude futures trading near $106 per barrel as investors question whether fresh diplomacy around the Iran conflict will stick after US President Donald Trump rejected Tehran's ceasefire proposal.
The bond market has also contributed to the dollar's strength, with a deepening selloff in US Treasuries pushing yields to multi-decade peaks. The 10-year benchmark yield reached its highest level since 2007, and the 30-year yield hit its highest since 2004.