Forex
Dollar Set for Second Straight Weekly Gain as Fed Bets Rise
The dollar is poised to secure its second consecutive weekly gain despite a slight slip on Friday, driven by rising rate hike bets and surging US Treasury yields.
The greenback has aggressively repriced the US interest rate trajectory since the Federal Reserve tightened policy last week. Robust economic data, fresh energy supply concerns, and a chorus of hawkish Fed speakers have strengthened this conviction.
A bond selloff sent long-dated US Treasury yields to their highest in over 20 years, further bolstering the dollar's strength.