US Dollar Surges on Uncertainty and Rising Yields

The US Consumer Confidence Index for September came in at 81.9, marking a decline from previous months.

This development has had a noticeable impact on the value of the US Dollar (USD), which has gained strength and reached fresh multi-week highs in the 101.40-101.50 band.

The rise in USD value is attributed to steady uncertainty surrounding the Middle East crisis and rising US Treasury yields, rather than any significant change in monetary policy by the Federal Reserve.