Currency Buzz: Dollar Index Draws Support From Higher US Treasury Yields

5 Jul 2022 , 12:28 PM

The dollar index drew strong support near 105 mark on Tuesday, not far below last months two-decade high of 105.790, tracking higher treasury yields. US benchmark 10-year yields are seen just short of 3% mark at 2.97% awaiting minutes of the last central bank meeting for further cues on the likely path for US monetary policy. Higher yields typically indicate investors expect Fed to continue with aggressive rate hike path. The dollar index which measures the buck against six major peers was largely unchanged at 104.96. Powered by Commodity Insights