DXY Surges as US Treasury Yields Hit Multi-Year High
The US Dollar Index (DXY) has gained ground for two consecutive days, trading above 99.50 during Asian hours on Wednesday.
The Greenback's strength is attributed to rising bond yields and surging oil prices, which have reignited concerns over persistent inflation and potential interest rate hikes.
US Treasury yields hit a multi-year high of 4.80% for the 10-year benchmark, driven by a global bond selloff.