Forex
Dollar Index Surges as T-Note Yields Reach 19-Year High
The US dollar index DXY rose by +0.24% on Monday as T-note yields soared, reaching a 19-year high of 5.27%. The 10-year T-note yield's surge strengthened the dollar's interest rate differentials.
Monday's stock market weakness also boosted demand for dollar liquidity, further supporting the dollar's climb.
Fed Governor Lisa Cook's hawkish comments added to the dollar's momentum when she said the US labor market seems well positioned to handle higher interest rates.