Currency Buzz: Dollar Index Lifted By Rising Treasury Yields

11 Oct 2022 , 03:53 PM

The dollar index climbed to a two-week high on Tuesday, inching near its recent multiyear peaks touched in September. Spike in benchmark US treasury yields to 4% amid a hawkish Federal Reserve on aggressive interest rate hikes to curb inflation is seen dragging dollar index higher. Moreover, the risk-averse market atmosphere allows the greenback to continue to outperform its rivals. The dollar index that measures the greenback against a basket of currencies was quoting up 0.16% at 113.25. Meanwhile, EUR/USD that weighs the most in the dollar basket continues to stay under parity at $96.98. The yen hovered near the level that prompted last months intervention.Powered by Commodity Insights