Dollar in the world hits a six-day maximum after rising US bond yields

Dollar in the world hits a six-day maximum after rising US bond yields

As investors brace for the possibility of the Fed being tougher than expected, bond yields are soaring. That of two-year paper – which follows expectations of short-term rates – exceeded 1% for the first time since February 2020.

The return on US 10-year debt also hit a two-year high.

The dollar strengthened against a basket of six major currencies, trading at a six-day high of 95.454 during Asian trading. At 1232 GMT it was trading at 95.385 units, up 0.2% on the day.

The euro-dollar parity was down 0.1% at $1.1388.

The yen eased after the Bank of Japan said it will maintain its ultra-loose monetary policy as global peers move toward exiting crisis-time policies.

The US currency was stable at 114.6 yen, after hitting a high of 115.06 overnight.

Source From: Ambito

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