Dollar Index Edges Up on Higher Bond Yields and Surging Oil Prices

The US Dollar Index (DXY) has edged up to nearly 99.50, supported by higher bond yields, which are rising due to surging oil prices following renewed Middle East conflicts.

Long-dated United States Treasury Yields have reached a fresh 19-month high at 4.78%, while 30-year US Treasury Yields have jumped 0.5% to near 5.27%, the highest level seen in over a week.

The surge in oil prices has prompted fears of prolonged energy supply disruption, with the WTI Oil price up almost 0.6% to near $86.00.