Dollar Strengthens as US Yields Reach 19-Year High

The US dollar index rose by +0.24% on Monday, fueled by soaring T-note yields and hawkish comments from Fed Governor Lisa Cook.

The 10-year T-note yield jumped to a 19-year high of 5.27%, strengthening the dollar's interest rate differentials and pushing up the dollar against other major currencies.

Fed Governor Cook said the US labor market seems well positioned to handle higher interest rates, which boosted demand for dollar liquidity and supported the dollar.