Dollar Surges Near Two-Month High as Oil and Yields Fuel Gains

The US dollar has risen to near a two-month high as investors await key data from the United States for clues on the Federal Reserve's interest rate path.

Volatility in oil prices and Treasury yields have contributed to the dollar's strength, with it currently trading at around $1.1367 against the euro, its weakest level in three months.

The European Central Bank's chief has signalled measured steps to curb inflation, which has also supported the dollar.

Meanwhile, the sterling remains steady at $1.3248, close to a three-month trough, while the Australian dollar and kiwi have both dipped 0.1% lower.