Forex
Dollar Strengthens on Rising Oil Prices and Treasury Yields
The US dollar strengthened to near a two-month high on Tuesday due to rising oil prices and Treasury yields. The euro, meanwhile, traded near its weakest in three months at $1.1360 after European Central Bank President Mario Draghi signalled measured steps to quell inflation.
Oil prices crept back up, with Brent crude futures above $107 a barrel as markets doubted the success of renewed efforts to end the Iran war, following US President Donald Trump's rejection of Tehran's ceasefire proposal.
The 10-year Treasury yield reached its highest since 2007 and the 30-year at its highest since 2004. The monetary policy-sensitive two-year yield also rose to its highest in more than two years, closing in on 5%.